Singtel unit prices US$750m 10-year notes at 1.875%
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SINGAPORE Telecommunications (Singtel) on Thursday said its wholly-owned subsidiary, Singtel Group Treasury (SGT), has priced US$750 million 10-year notes at 1.875 per cent per annum.
The notes, which are guaranteed by Singtel, will mature in 2030. They are US dollar-denominated and will be drawn down under SGT's S$10 billion euro medium term note programme.
The order book closed after receiving interest of about US$4.1 billion and was 5.5 times subscribed by investors, Singtel said.
Net proceeds from the issue will be used by SGT to fund its ordinary course of business.
"This issue is part of the long-term financing strategy and extends the debt maturity profile of Singtel and its subsidiaries," the telco said in a press statement.
In line with Singtel's current credit ratings, the notes are rated A1 by Moody's Investors Service and A by S&P Global Ratings.
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Citigroup Global Markets Singapore, DBS Bank and The Hongkong and Shanghai Banking Corporation acted as joint lead managers and bookrunners for the deal.
Shares in Singtel closed at S$2.57 on Wednesday, up S$0.03 or 1.2 per cent.
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