SingTel notes issue four times oversubscribed

The order book closed after receiving interest of approximately US$3.25 billion.

Singapore Telecommunications Limited announced that its wholly-owned subsidiary, SingTel Group Treasury Pte. Ltd. (SGT), priced US$700 million of 5.5 year notes on 1 March 2012, guaranteed by SingTel.

Citigroup Global Markets Singapore Pte. Ltd., Deutsche Bank AG, Singapore Branch, Merrill Lynch (Singapore) Pte. Ltd. and Morgan Stanley Asia (Singapore) Pte. acted as Joint Lead Managers and Bookrunners.

SingTel said:

The US-denominated notes will carry a coupon of 2.375 per cent per annum and is drawn down under SGT’s S$10 billion Euro Medium Term Note Programme (Programme). The notes will mature in 2017.

This issue is part of the long-term financing strategy and extends the debt maturity profile of SingTel and its subsidiaries (collectively referred to as SingTel Group). The net proceeds from this issue will be applied by SGT to fund its ordinary course of business.