Chicago, June 3 – Singapore Telecommunications Ltd.’s wholly owned subsidiary, Singtel Group Treasury Pte. Ltd., priced $750 million of 10-year notes (A1/A) with a 1 7/8% coupon, according to a news release.
The notes are guaranteed by the parent.
The order book on the issue was approximately $4.1 billion, 5.5x oversubscribed.
The issue will be drawn under Singtel’s S$10 billion euro medium-term note program.
Proceeds will be used to fund the ordinary course of business and the issue is part of the company’s long-term financing strategy and extends the debt maturity profile of Singtel and its subsidiaries.
Joint lead managers and bookrunners for the notes were Citigroup Global Markets Singapore Pte. Ltd., DBS Bank Ltd. and HSBC Ltd.
Singtel is a communications provider based in Singapore.
| Issuer: | Singtel Group Treasury Pte. Ltd.
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| Guarantor: | Singapore Telecommunications Ltd.
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| Issue: | Senior notes
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| Amount: | $750 million
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| Tenor: | 2030
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| Coupon: | 1 7/8%
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| Bookrunners: | Citigroup Global Markets Singapore Pte. Ltd., DBS Bank Ltd. and HSBC Ltd.
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| Ratings: | Moody’s: A1
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| S&P: A
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| Pricing date: | June 4
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