SINGAPORE - Temasek-owned infrastructure giant Surbana Jurong has priced its inaugural bond offering, in an exercise that it said on Thursday (Sept 27) was oversubscribed twice over amid "robust reception".

The exercise saw the issuance of $350 million in Singapore dollar-denominated senior bonds, which are due in 2025 with a coupon rate of 4.11 per cent, under a US$1 billion multi-currency debt issuance programme launched in September.

Surbana Jurong has billed its debt programme as a diversification of funding sources and a step towards building a long-term platform to tap global debt capital markets.

The bond offering, which is scheduled to settle on Oct 3, drew 67 investors - most of them from Singapore. DBS Bank is the sole lead manager of the offering and sole arranger of the full debt scheme.

Surbana Jurong said that it will use the net proceeds from the debut bond issuance to refinance its debts and fund potential acquisitions, as well as for general corporate and working capital purposes.

Group chief executive Wong Heang Fine said in a media statement: "Our global status requires us to maintain a healthy financial position so that we can continue to deepen our competencies and expand our suite of solutions to better serve our clients."