We refer to Mr Benjamin Puah Hong Beng's letter (Why didn't SIA use a local bank for bond issue?, Jan 18).

Due to commercial sensitivities, we are unable to disclose the reasons behind the selection of banks for our recent US dollar bond issue.

Singapore Airlines has extensive and strong relationships with all Singapore banks. For example, last year, DBS Bank was the sole financial adviser and joint lead manager for our $8.8 billion rights issue.

DBS and UOB were also the joint lead managers of a $500 million 10-year bond that was launched in November last year.

SIA has active and longstanding engagements with DBS, UOB and OCBC Bank, as we do with other bank partners, across a wide range of banking needs from cash management to short-and long-term funding.

We appreciate the strong financial infrastructure and institutions in Singapore, the support of all local and global bank partners, as well as the continued backing from our shareholders, investors and customers.

Stephen Barnes

Senior Vice-President

Finance

Singapore Airlines