Singtel group signs for $4.1b in credit facilities with banks

Singtel said on Monday (April 24) that its subsidiaries have signed agreements for total credit facilities amounting to $4.1 billion for general corporate purposes and refinancing of existing facilities.
Singtel said on Monday (April 24) that its subsidiaries have signed agreements for total credit facilities amounting to $4.1 billion for general corporate purposes and refinancing of existing facilities.PHOTO: REUTERS

SINGAPORE - Singapore Telecommunications (Singtel) said on Monday (April 24) that its subsidiaries have signed agreements for total credit facilities amounting to S$4.1 billion for general corporate purposes and refinancing of existing facilities.

In Singapore, Singtel Group Treasury agreed to a three-year S$2.5 billion committed revolving credit facility with 12 banks, both local and international. The facility is guaranteed by Singtel.

In Australia, Optus Finance, a subsidiary of Singtel Optus, signed a three-year A$1.5 billion (S$1.58 billion) committed revolving facility agreement with 15 banks, with the facility guaranteed by Optus and certain of its subsidiaries.L

Said Singtel Group chief financial officer Lim Cheng Cheng: "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." n