Australian telecoms operator Optus is looking to raise S$150m (US$106m) by issuing debt in Singapore, home of parent SingTel (SGX:Z74).
Australian telecoms operator Optus is looking to raise S$150m (US$106m) by issuing debt in Singapore, home of parent SingTel (SGX:Z74).
A subsidiary of the Australian carrier has priced the seven-year fixed-rate notes aided by OCBC Bank, which is acting as sole lead manager and bookrunner.
Issued under Optus’s €3bn (US$3.36bn) euro medium term note programme, SingTel said the transaction would extend the maturity profile of Optus’s debt as well as “adding diversity to its debt structure”. Optus will use the proceeds for general corporate purposes.
Optus last headed to the debt market in June when it raised A$250m (US$194m), again diversifying the currency in which its notes are denominated.
Earlier this year, SingTel delisted from the Australian stock exchange. Citing low trading volumes, the company said the move would cut costs as the dual Singapore listing added administration and compliance costs.