Singaporean mobile operator SingTel has raised US$600m through a notes issue, according to Singapore Stock Exchange filing.
The 10.5-year notes, which carry an annual coupon of 4.5%, have been rated Aa2 by Moody’s and A+ by Standard & Poor’s. The order…
Singaporean mobile operator SingTel has raised US$600m through a notes issue, according to Singapore Stock Exchange filing.
The 10.5-year notes, which carry an annual coupon of 4.5%, have been rated Aa2 by Moody’s and A+ by Standard & Poor’s. The order book was more than three times oversubscribed.
BNP Paribas, HSBC and Morgan Stanley acted as joint lead managers and bookrunners on the issue while ANZ was appointed as co-manager.
In the filing, SingTel said it plans use the proceeds for general corporate purposes, including the refinancing of maturing debts.
In January, SingTel bought about four million shares in Bharti Airtel for Rs1.36bn (US$30m) via an open market purchase. With this acquisition, the company increased its stake in the Indian telco from 32.04% to 32.15%.
