Singapore Telecommunications (SingTel) has announced that it has priced its $600 million 10.5-year notes at 4.5%, with the offering more than three times oversubscribed.
The note is part of the company’s $7.85 billion Euro Medium Term Note programme and will be used for general corporate purposes, including repayment of SingTel’s maturing debts.
BNP Paribas, HSBC and Morgan Stanley acted as joint lead managers and bookrunners while Australia’s ANZ was co-manager.
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.
www.WirelessFederation.com/news: Over stepping HSBC, the telecom operator Vodafone has emerged as UK’s most valuable brand and world’s seventh most valuable brand, rising one place from last year in an annual survey by a consultancy.
The world’s most valuable brand which is calculated using a bench-marking system looking at strength, risk, future potential and financial strength is Wal-Mart, according to the data. Google has moved from fifth place to second, overtaking Coca-Cola.
