Singtel prices US$500m 10-year notes at 3.25%

SINGAPORE Telecommunications (Singtel) closed the order book for its US$500 million 10-year notes after their issue was 2.5 times subscribed, receiving an interest of approximately US$1.25 billion from investors.

The Notes, which were issued by its subsidiary Singtel Group Treasury (SGT), will carry a coupon of 3.25 per cent per annum and are drawn down under SGT's S$10 billion Euro Medium Term Note Programme guaranteed by Singtel. The Notes will mature in 2025.

Lim Cheng Cheng, Singtel group chief financial officer, said: "We are pleased to have received very keen support and interests from investors which reflected confidence in the Singtel Group's strong credit quality."

The Notes are rated Aa3 by Moody's and A+ by Standard & Poor's.