By Angela McDaniels
Tacoma, Wash., March 1 - Singapore Telecommunications Ltd. subsidiary SingTel Group Treasury Pte. Ltd. priced $700 million of 2 3/8% notes due 2017, according to a company news release. The parent company will guarantee the notes.
Citigroup Global Markets Singapore Pte. Ltd., Deutsche Bank AG, Singapore Branch, Merrill Lynch (Singapore) Pte. Ltd. and Morgan Stanley Asia (Singapore) Pte. are the bookrunners.
The notes (Aa2/A+) are being issued under the company's S$10 billion euro medium-term note program.
The company said it received orders for $3.25 billion of the notes, making the issue more than four times oversubscribed.
Proceeds will be used for general corporate purposes.
SingTel is a communications provider based in Singapore.
| Issuer: | SingTel Group Treasury Pte. Ltd.
|
| Guarantor: | Singapore Telecommunications Ltd.
|
| Issue: | Notes
|
| Amount: | $700 million
|
| Maturity: | 2017
|
| Coupon: | 2 3/8%
|
| Bookrunners: | Citigroup Global Markets Singapore Pte. Ltd., Deutsche Bank AG, Singapore Branch, Merrill Lynch (Singapore) Pte. Ltd. and Morgan Stanley Asia (Singapore) Pte.
|
| Pricing date: | March 1
|
| Ratings: | Moody's: Aa2
|
| Standard & Poor's: A+
|
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