Singtel Group Treasury (SGT), a wholly-owned subsidiary of Singapore Telecommunications (Singtel), has priced $1 billion of subordinated perpetual securities on April 7.

The order book for the securities, which are guaranteed by Singtel, closed after receiving interest of approximately $2.1 billion and was 2.1 times oversubscribed by investors.
The securities will be drawn down under SGT’s existing $10 billion Euro Medium Term Note Programme and will have an initial rate of distribution of 3.30 per cent per annum.

DBS Bank, The Hongkong and Shanghai Banking Corporation, Oversea-Chinese Banking Corporation and Standard Chartered Bank (Singapore) acted as joint lead managers and book runners.

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