Singtel lines up $2.94b in credit facilities

Singtel has lined up a total of S$4.1 billion ($2.94 billion) in credit facilities for debt refinancing and general corporate purposes.

In Singapore, the operator’s subsidiary Singtel Group Treasury has entered into a three-year S$2.5 billion revolving credit facility with 12 banks.

These include Australia’s ANZ, Bank of America Singapore, BNP Paribas, the Bank of Tokyo-Mitsubishi, Citibank Singapore, DBS Bank, HSBC Singapore, Mizhou Bank, OCBC, Standard Chartered, Sumitomo Singapore and United Overseas Bank.

Singtel’s Australian subsidiary Optus has meanwhile signed a three-year A$1.5 billion ($1.13 billion) credit facility with 15 banks, including local branches many of the above banks as well as Australia’s Westpac and Commonwealth Bank.

Both credit facilities are guaranteed by the respective operators and certain subsidiaries, Singtel 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.” Singtel group CFO Lim Cheng Cheng said.