Mobile operator Singapore Telecommunications (SingTel) has announced it signed S$3.7bn (US$3bn) worth of credit facilities with international banks.
In Singapore, SingTel inked a three-year S$2.16bn (US$1.7bn) revolving credit facility with 12 banks:…
Mobile operator Singapore Telecommunications (SingTel) has announced it signed S$3.7bn (US$3bn) worth of credit facilities with international banks.
In Singapore, SingTel inked a three-year S$2.16bn (US$1.7bn) revolving credit facility with 12 banks: Australia and New Zealand Banking Group, Bank of America, The Bank of Tokyo-Mitsubishi UFJ, Citibank, Deutsche Bank, DBS Bank, HSBC, Mizuho Corporate Bank, Oversea-Chinese Banking Corporation, Standard Chartered, Sumitomo Mitsui Banking Corporation and United Overseas Bank Limited.
In Australia, its subsidiary Optus also reached an agreement with 12 banks for a three-year committed revolving facility agreement. The 12 banks are: Australia and New Zealand Banking Group, Bank of America, Barclays, The Bank of Tokyo-Mitsubishi UFJ, BNP Paribas, Citibank, Commonwealth Bank of Australia, HSBC, JP Morgan Chase Bank, Mizuho Corporate Bank, Oversea-Chinese Banking Corporation and Westpac Banking Corporation.
The SingTel Group said it would use the proceeds of these financings for general corporate purposes and to refinance existing facilities.
Optus recently announced the commissioning of a new Ku-band satellite, Optus 10, to be built by Space Systems/Loral (SS/L). Expected to be delivered in 2013, the satellite, which will have 24 transponders, will cover Australia and New Zealand.
Meanwhile, reports allege that Indonesian incumbent PT Telekomunikasi Indonesia (Telkom) is considering buying back the shares of its mobile unit Telkomsel from SingTel.
But in an email to TelecomFinance, a SingTel spokesperson said: “SingTel has a good partnership with both Telkom and Telkomsel and we continue to be a long term strategic investor in Indonesia.”
Telkomsel is 65% owned by Telkom, which in turn is majority-held by the Indonesian government, and 35% controlled by SingTel.
