SINGAPORE: Singapore Telecommunications (Singtel) announced on Wednesday that it has closed the order book for its US$500 million 10-year notes after they were 2.5 times oversubscribed, receiving an interest of approximately US$1.25 billion from investors.
The Notes, which were issued by subsidiary Singtel Group Treasury (SGT), will carry a coupon of 3.25 per cent per annum and are drawn down under SGT’s $10 billion Euro Medium Term Note Programme guaranteed by Singtel. They will mature in 2025.
Singtel said the issue is part of its long-term financing strategy and extends the debt maturity profile of the telco and its subsidiaries. The net proceeds from this issue will be applied by SGT to fund its ordinary course of business.
Said Ms Lim Cheng Cheng, Singtel group chief financial officer: “We are pleased to have received very keen support and interests from investors which reflected confidence in the Singtel Group’s strong credit quality.”
