Subsidiaries of Singapore Telecommunications (Singtel) entered into agreements for total credit facilities of approximately S$4.1 billion ($2.94 billion) for general corporate purposes and refinancing of existing facilities. Bank of America, BNP Paribas and Citibank were part of 12-bank syndicate.
In Singapore, Singtel Group Treasury, signed the agreement for a three-year S$2.5 billion ($1.8 billion) revolving credit facility with 12 banks, comprising Australia and New Zealand Banking Group; Bank of America, Singapore Branch; BNP Paribas, The Bank of Tokyo-Mitsubishi UFJ; Citibank Singapore Branch; DBS Bank; The Hong Kong and Shanghai Banking Corporation, Singapore Branch; Mizuho Bank; Oversea-Chinese Banking; Standard Chartered Bank; Sumitomo Mitsui Singapore Branch and United Overseas Bank. This facility is guaranteed by Singtel.
In Australia, Optus Finance, a subsidiary of Singtel Optus (Optus), signed a three-year A$1.5 billion ($1.14 billion) committed revolving facility agreement with 15 banks, comprising Australia and New Zealand Banking Group, Bank of America Australian Branch, Bank of China Sydney Branch, The Bank of Tokyo-Mitsubishi UFJ,, BNP Paribas Sydney Branch, Citibank Sydney Branch, Commonwealth Bank of Australia, DBS Bank Australian Branch, The Hong Kong and Shanghai Banking Corporation Sydney Branch, Mizuho Bank, Oversea-Chinese Banking Corporation Sydney Branch, Standard Chartered Bank, Singapore Branch, Sumitomo Mitsui Sydney Branch, Societe Generale, Singapore Branch, and Westpac Banking This facility is guaranteed by Optus and certain of its subsidiaries.
Lim Cheng Cheng, Singtel Group CFO, said, “The Singtel Group is very pleased with the level of support demonstrated by our bankers in Singapore and Australia, which reflects their confidence in the Singtel Group’s credit quality and business fundamentals.”