SingTel’s wholly-owned subsidiary, SingTel Group Treasury (SGT), has priced S$600m worth of guaranteed notes (due 2020) to pay a semi annual coupon of 3.4875% per annum.
The issue is jointly lead managed by DBS Bank, The Hong Kong and Shanghai
Banking…
SingTel’s wholly-owned subsidiary, SingTel Group Treasury (SGT), has priced S$600m worth of guaranteed notes (due 2020) to pay a semi annual coupon of 3.4875% per annum.
The issue is jointly lead managed by DBS Bank, The Hong Kong and Shanghai
Banking Corporation and Oversea-Chinese Banking Corporation.
The notes will be guaranteed by SingTel.
An approval “in-principle” has been obtained for the listing and quotation of the notes on the Singapore Exchange Securities (SGX).
The offering is scheduled to close on April 8 2010 and the notes are expected to be listed on the SGX on April 9 2010.
This issue forms part of the SingTel Group’s long term financing strategy.
SingTel said in a statement: “The issue of the notes extends the maturity profile of the SingTel Group’s debt and adds diversity to its debt structure. SGT will utilise the net proceeds of the issue, after deducting issue expenses, to refinance SGT’s existing bank borrowings and to fund SingTel’s and its subsidiaries’ ordinary course of business.”
Ms Jeann Low, SingTel Group CFO, said: “The issue was well received, which reflects investor confidence in SingTel. With this issue, we have enhanced the maturity profile of our debt.”
The Notes are rated Aa2 by Moody’s Investors Service and A+ by Standard & Poor’s, in line with SingTel’s current credit ratings.