Singapore’s incumbent telco and satellite operator SingTel has secured revolving credit facilities worth around S$3.5bn (US$2.79bn).
The debt, to be used for general corporate purposes as well as refinancing existing facilities, was issued through…
Singapore’s incumbent telco and satellite operator SingTel has secured revolving credit facilities worth around S$3.5bn (US$2.79bn).
The debt, to be used for general corporate purposes as well as refinancing existing facilities, was issued through its domestic and Australian subsidiaries.
It comprises a S$2.1bn (US$1.67bn) three-year revolver, which was secured by SingTel Group Treasury Pte and is guaranteed by the SingTel group, and a A$1.2bn (US$1.12bn) three-year RCF that is guaranteed by its Australian unit Optus and other subsidiaries in the country.
SingTel CFO Jeann Low said: “The SingTel Group appreciates and is very pleased with the level of support and confidence demonstrated by our bankers in Singapore and Australia.”
The banks on the Singaporean debt are Bank of America, The Bank of Tokyo-Mitsubishi UFJ, Citibank, Credit Agricole, Deutsche Bank, DBS Bank, The Hongkong and Shanghai Banking Corporation, Mizuho Bank, Oversea-Chinese Banking Corporation, Standard Chartered Bank, Sumitomo Mitsui Banking Corporation and United Overseas Bank.
Those listed on the Australian revolver are Australia and New Zealand Banking Group, Bank of America, Barclays, The Bank of Tokyo-Mitsubishi UFJ, BNP Paribas, Citibank, Commonwealth Bank of Australia, The Hongkong and Shanghai Banking Corporation, JPMorgan, Mizuho Bank, and Westpac Banking Corporation.
The move comes just a few months after reports claimed SingTel was close to securing a S$1.8bn (US$1.43bn) three-year loan from a consortium of local and international lenders.
SingTel, South East Asia’s largest telco, netted a three-year S$2.16bn (US$1.7bn) revolver back in June 2011 with 12 banks.
It is also rumoured to be talking to local sovereign wealth fund Temasek Holdings to acquire the latter’s 41.6% stake in Thai telecoms group Shin Corp, valued at US$3.1bn.
