By Wendy Van Sickle
Columbus, Ohio, Aug. 20 – Singapore Telecommunications Ltd.’s wholly owned subsidiary, SingTel Group Treasury Pte. Ltd., priced $750 million of 10-year notes (A1/A+) with a 2 3/8% coupon, according to a notice filed with the Singapore Stock Exchange.
The notes will be guaranteed by the parent company.
The notes will be issued under the subsidiary’s S$10 billion euro medium-term note program.
SingTel said the offering was 3.6 times oversubscribed by investors.
Citigroup Global Markets Singapore Pte. Ltd., Hongkong and Shanghai Banking Corp. Ltd. and Standard Chartered Bank (Singapore) Ltd. acted as joint managers and bookrunners for the offering.
SingTel said that the issuance is part of its long-term financing strategy and extends its debt maturity profile.
Proceeds will be used to fund its ordinary course of business.
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: | Notes
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| Amount: | $750 million
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| Tenor: | Ten years
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| Coupon: | 2 3/8%
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| Bookrunners: | Citigroup Global Markets Singapore Pte. Ltd., Hongkong and Shanghai Banking Corp. Ltd. and Standard Chartered Bank (Singapore) Ltd.
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| Ratings: | Moody’s: A1
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| Standard & Poor’s: A+
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| Announcement date: | Aug. 20
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