Singapore incumbent SingTel is reportedly close to securing a S$1.8bn (US$1.43bn) three-year loan from a consortium of local and international lenders.
Bank of America Merrill Lynch, Bank of Tokyo-Mitsubishi UFJ, Citi, DBS Bank and HSBC are among the…
Singapore incumbent SingTel is reportedly close to securing a S$1.8bn (US$1.43bn) three-year loan from a consortium of local and international lenders.
Bank of America Merrill Lynch, Bank of Tokyo-Mitsubishi UFJ, Citi, DBS Bank and HSBC are among the banks involved in the new revolving credit facility, which is expected to close by the end of March, according to a Basis Point report.
In June 2011, SingTel inked a three-year S$2.16bn (US$1.7bn) revolving credit facility with 12 banks.
Proceeds from the new facility may be used for general corporate purposes, including M&A deals.
This report comes as SingTel has been rumoured to be in talks with local sovereign wealth fund Temasek Holdings to acquire its 41.6% stake in Thai telecoms group Shin Corp, valued at US$3.1bn.
Discussions were held late last year but reportedly stalled due to the turbulent political climate in Thailand.
SingTel was not immediately available for comment.
