Temasek Financial (I) Limited, a wholly-owned subsidiary of Temasek Holdings has increased the limit of its Guaranteed Global Medium Term Note Programme to US$25 billion ($34.20 billion) from US$20 billion on September 14.

According to Temasek, net proceeds from the issuances of the notes will be provided by Temasek Financial to Temasek and its investment holding companies to fund their ordinary course of business.

Temasek Financial currently has $12.1 billion across 15 series of notes outstanding under the programme.

The last limit increase took place in July 2018, when it was increased to US$20 billion from US$15 billion.