SingTel – CNA

SingTel says Optus notes over-subscribed

Telco SingTel says its wholly-owned Australian subsidiary, Optus, has sold a US$500 million 10-year bond issue.

It says the sale was five times over-subscribed and was made through its unit, Optus Finance, to institutional investors in Asia and Europe.

The notes are denominated in US dollars and carry a semi-annual coupon of 4.625 percent per annum.

SingTel says the note issue follows a successful roadshow in Asia in early October, where it saw extremely strong investor response.

It adds that the bond issue forms part of Optus’ long-term financing strategy, extending the maturity profile of Optus’ debt and adds diversity to its debt structure.

The telco also says the money will be used by Optus for general corporate purposes.

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