Singtel units ink agreements for S$4.1b credit facilities with banks

SINGAPORE Telecommunications' (Singtel) subsidiaries have inked agreements for credit facilities amounting to S$4.1 billion for general corporate purposes and refinancing of existing facilities, it said in a Singapore Exchange filing on Monday.

In Singapore, Singtel Group Treasury signed the agreement for a three-year S$2.5 billion committed revolving credit facility with 12 banks, both local and international, with the facility guaranteed by Singtel.

In Australia, Optus Finance, a subsidiary of Singtel Optus, signed a three-year A$1.5 billion (S$1.58 billion) committed revolving facility agreement with 15 banks, with the facility guaranteed by Optus and certain of its subsidiaries.

Lim Cheng Cheng, Singtel Group chief financial officer, said: "The Singtel Group is very pleased with the level of support demonstrated by our bankers in Singapore and Australia, which reflects their confidence in the Singtel Group's credit quality and business fundamentals."