Singtel secures S$4.17b in credit facilities; SATS issues S$100m in 2.6% notes due 2025

Janice Heng

Published Fri, Apr 24, 2020 · 10:51 AM

SINGTEL announced on Friday evening that its units have entered agreements for total credit facilities of S$4.17 billion, for general corporate purposes and refinancing.

In Singapore, Singtel Group Treasury signed an agreement for a three-year S$2.5 billion committed revolving credit facility with 13 banks, including the three local banks. It also inked agreements for one-year committed facilities totalling S$950 million with a group of banks, which it did not specify. These facilities are guaranteed by Singtel.

In Australia, Optus Finance Pty Ltd - a subsidiary of Singtel Optus Pty Limited (Optus) - entered into 364-day committed facilities totalling A$800 million with a group of banks. The facilities are guaranteed by Optus and some of its subsidiaries.

Singtel shares closed down S$0.05 or 1.82 per cent at S$2.70 on Friday before the news.

Separately, ground handler and in-flight catering provider Sats said on Friday that it has issued S$100 million in 2.6 per cent notes due 2025 under its S$500 million multicurrency medium-term note programme. In-principle approval has been received for the listing and quotation of the notes, with listing expected on April 27.

Sats had earlier said that net proceeds from the issue will be used for general corporate purposes; investing in value-creating opportunities, including long-term strategic investments and acquisitions; and refinancing borrowings.