SINGAPORE (June 4): Singapore Telecommunications says subsidiary Singtel Group Treasury (SGT) on Wednesday issued US$750 million ($1.05 billion) worth of 10-year notes, guaranteed by Singtel.
The order book closed after receiving interest of some US$4.1 billion, and was 5.5 times oversubscribed by investors.
The notes, which are US$-denominated, will carry a coupon of 1.875% per annum and will be drawn down under SGT’s $10 billion Euro Medium Term Note Programme. The notes will mature in 2030.
The notes have been rated A1 by Moody’s Investors Service, Inc. and A by Standard & Poor’s.
Singtel says net proceeds from the issue will be applied by SGT to fund its ordinary course of business.
Citigroup Global Markets Singapore, DBS Bank, and The Hongkong and Shanghai Banking Corporation (HSBC) acted as joint lead managers and bookrunners.
Singtel shares closed 3 cents higher, or 1.2% up, at $2.57 on Wednesday.