www.WirelessFederation.com/news: S$600 million ($428.8m) worth of guaranteed bonds has been issued by SingTel to reschedule debt and provide working capital for its Singapore and other Asian businesses. SingTel group CFO Jeann Low s feels that the issue had so far been well received.

The offer is scheduled to close on April 8, with the notes to list on the Singapore bourse. According to the firm, it uses 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.

A semi annual coupon of 3.49% per annum will be paid by the bonds which mature in 2020. The issue is jointly lead-managed by DBS Bank, HSBC and Overseas-Chinese Banking Corporation.