SINGAPORE: Singtel announced that its wholly-owned subsidiary, Singtel Group Treasury Pte. Ltd. (SGT), has priced US$750 million of 10-year notes guaranteed by Singtel.
The issue of notes attracted strong demand from a wide range of high quality investors. The order book closed after receiving interest of approximately US$2.7 billion and was 3.6 times oversubscribed by investors.
The notes, which are US$-denominated, will carry a coupon of 2.375 percent per annum and will be drawn down under SGT’s S$10 billion Euro Medium Term Note Programme guaranteed by Singtel.
The notes will mature in 2029. This issue is part of the long-term financing strategy and extends the debt maturity profile of Singtel and its subsidiaries (collectively referred to as Singtel Group). The net proceeds from this issue will be applied by SGT to fund its ordinary course of business.
Lim Cheng Cheng, Singtel Group Chief Financial Officer, said: “We are pleased with the very strong demand for our Notes which underscores investors’ continued confidence in the Singtel Group’s high credit quality. We thank investors for their support.”
In line with Singtel’s current credit ratings, the Notes are rated A1 by Moody’s Investors Service, Inc. and A+ by S&P Global Ratings.
Application has been made for the listing and quotation of the Notes on the Singapore Exchange Securities Trading Limited (SGX-ST). Approval in-principle for the listing and quotation of the Notes on the SGX-ST is not to be taken as an indication of the merits of SGT, Singtel, their respective subsidiaries and associated companies, the Programme or the Notes.
The SGX-ST assumes no responsibility for the correctness of any of the statements made or opinions expressed or reports contained herein.
Citigroup Global Markets Singapore Pte. Ltd., The Hongkong and Shanghai Banking Corporation Limited and Standard Chartered Bank (Singapore) Limited acted as Joint Lead Managers and Book runners.
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