Singapore Telecommunications Limited (SingTel) today announced that its wholly-owned subsidiary, SingTel Group Treasury Pte. Ltd. (SGT), priced US$600 million of 10.5-year notes on 1 March 2011, guaranteed by SingTel.
The note issue met with strong response from a wide range of high quality investors. The order book closed after registering approximately US$1.8 billion of interest and was oversubscribed by more than three times.
The US-denominated notes will carry an annual coupon of 4.5 per cent per annum and is drawn down under SGT’s S$10 billion Euro Medium Term Note Programme (Programme). The notes will mature in 2021.
This issue forms part of the long-term financing strategy and extends the debt maturity profile of SingTel and its subsidiaries (collectively referred to as SingTel Group). SGT will utilise the funds for general corporate purposes, including repayment of the SingTel Group’s maturing debts.
Ms Jeann Low, SingTel Group Chief Financial Officer, said: “We are pleased to have received very strong support from investors and that shows confidence in the SingTel Group’s credit quality which is among the highest in our industry.”
The note issue met with strong response from a wide range of high quality investors. The order book closed after registering approximately US$1.8 billion of interest and was oversubscribed by more than three times.
The US-denominated notes will carry an annual coupon of 4.5 per cent per annum and is drawn down under SGT’s S$10 billion Euro Medium Term Note Programme (Programme). The notes will mature in 2021.
This issue forms part of the long-term financing strategy and extends the debt maturity profile of SingTel and its subsidiaries (collectively referred to as SingTel Group). SGT will utilise the funds for general corporate purposes, including repayment of the SingTel Group’s maturing debts.
Ms Jeann Low, SingTel Group Chief Financial Officer, said: “We are pleased to have received very strong support from investors and that shows confidence in the SingTel Group’s credit quality which is among the highest in our industry.”
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