SingTel – BT

SingTel lines up $3.7b of borrowings

Facilities in S’pore and Australia meant for general purpose and refinancing

SINGAPORE Telecommunications has arranged new borrowings of about $3.7 billion for general corporate purposes and to refinance existing facilities.

In a statement yesterday, the telco said that the new loans comprise S$2.16 billion in Singapore and A$1.2 billion (S$1.57 billion) in Australia.

Asked for details of the new credit facilities, a SingTel spokeswoman said they are for general corporate purposes and to replace some of its bank facilities.

‘These are revolving credit facilities. The interest rate will be determined based on the agreed margin and the base rate at point of drawdown. We do not disclose borrowing margin as this is private and confidential between us and the banking group.’

According to SingTel’s latest annual report, it has total unsecured borrowings made up of bonds and loans of S$7.2 billion.

The new borrowings SingTel has signed in Singapore are for a three-year S$2.16 billion committed revolving credit facility with 12 banks.

The list comprises Australia and New Zealand Banking Group, Bank of America, Bank of Tokyo-Mitsubishi UFJ, Citibank, Deutsche Bank, DBS Bank, The Hongkong and Shanghai Banking Corporation, Mizuho Corporate Bank, Oversea-Chinese Banking Corporation, Standard Chartered Bank, Sumitomo Mitsui Banking Corporation and United Overseas Bank. This facility is guaranteed by SingTel.

In Australia, wholly owned Optus Finance Pty Ltd signed a three-year A$1.2 billion committed revolving facility agreement also with 12 banks.

The 12 there are Australia and New Zealand Banking Group, Bank of America, Barclays Bank, Bank of Tokyo-Mitsubishi UFJ, BNP Paribas, Citibank, Sydney Branch, Commonwealth Bank of Australia, The Hongkong and Shanghai Banking Corporation, Sydney Branch, JP Morgan Chase Bank, Mizuho Corporate Bank, Oversea-Chinese Banking Corporation and Westpac Banking Corporation.

This facility is guaranteed by Optus and some of its subsidiaries.

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