Singtel unit prices S$1b subordinated perps at 3.3%

SINGAPORE Telecommunications (Singtel) on Thursday announced that its wholly-owned subsidiary Singtel Group Treasury (SGT) had priced S$1 billion of subordinated perpetual securities on April 7.

Net proceeds from the issue will be applied by SGT to fund its ordinary course of business.

In a pre-market bourse filing, Singtel said its issuance "attracted strong demand from a wide range of high-quality investors". Its order book closed after receiving interest of about S$2.1 billion, resulting in an oversubscription.