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Singtel signs $4.1 bil worth of credit agreements in Singapore & Australia

 Source: TheEdge Markets   |   Publish date: Fri, 21 Apr 2017, 05:44 PM   |    >> Read article in News website

SINGAPORE (April 21): Singtel Group says its subsidiaries have entered into agreements for total credit facilities of approximately $4.1 billion in Singapore and Australia, for general corporate purposes and refinancing of existing facilities.

In Singapore, Singtel Group Treasury signed an agreement which is guaranteed by Singtel for a three-year $2.5 billion committed revolving facility with 12 banks including OCBC, Standard Chartered, DBS and UOB.

In Australia, Optus Finance, a subsidiary of Singtel's wholly-owned subsidiary Singtel Optus, have signed a three-year A$1.5 billion ($1.6 billion) committed revolving facility agreement with 15 banks involving the likes of Societe Generale, Westpac Banking Corporation. T

The Australia facility is guaranteed by Optus and "certain of its subsidiaries", adds the group in its aftermarket filing to the SGX on Friday.

"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," comments chief financial officer, Lim Cheng Cheng, on behalf of the group.

Shares of Singtel closed 1 cent lower at $3.73 on Friday.

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