State-owned Singapore investment company Temasek Holdings may sell zero coupon bonds worth $629 million, The Wall Street Journal reports. The securities will mature in 2014. The company intends to utilize the net proceeds for financing its ordinary course of business.

Institutional investors are being offered by Temasek’s wholly owned unit Temasek Financial (III) $511.91 million bonds exchangeable for the ordinary shares of Standard Chartered Bank at par value of $0.50 each. Bank of America Merrill Lynch is exclusive book runner, stabilizing manager and settlement agent for the offering.

Click here for the story from The Wall Street Journal.

Click here for additional coverage from Bloomberg.