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SingTel launches $430m bond issue

31 Mar 2010
00:00
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SingTel has issued S$600 million ($428.8m) worth of guaranteed bonds to reschedule debt and provide working capital for its Singapore and other Asian businesses.

The firm said it use the net proceeds of the issue to refinance SingTel group treasury’s existing bank borrowings and to fund the group’s “ordinary course of business.

The offer is scheduled to close on April 8, with the notes to list on the Singapore bourse about a day later.

SingTel group CFO Jeann Low said the issue had so far been “well received.”

The bonds, which mature in 2020, pay a semi annual coupon of 3.49% per annum.

The issue is jointly lead-managed by DBS Bank, HSBC and Overseas-Chinese Banking Corporation.

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