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Singtel’s Optus prices S$200 million notes due 2035 at 2.48%

Singtel’s Optus prices S$200 million notes due 2035 at 2.48%

By Swedan Margen

Fashion

A unit of Singtel’s wholly owned subsidiary Optus has priced S$200 million in 10-year fixed-rate notes due in 2035 at 2.48 per cent.

The notes will be drawn down under Optus Finance’s three billion euro (S$4.5 billion) Euro Medium Term Note Programme, Singtel said on Tuesday (Nov 25).

“The issue is part of the long-term financing strategy and extends the debt maturity profile of Singtel and its subsidiaries,” the group added.

Net proceeds from the issuance will be “swapped into Australian dollars and applied by Optus towards funding its ordinary course of business”.

The notes, which are guaranteed by Optus and other subsidiaries, will mature on Dec 3, 2035.

UOB is the sole lead manager and book runner for the issuance.

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Singtel group chief executive officer Yuen Kuan Moon says the telco has invested A$9 billion (S$7.7 billion) in capital expenditures at Optus over the past five years.

Shares of Singtel fell 0.4 per cent or S$0.02 to S$4.77 on Tuesday, before the news.

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Originally published by businesstimes.com.sg. Syndicated material does not necessarily reflect the views of Grazia British.

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Singtel’s Optus prices S$200 million notes due 2035 at 2.48% | Grazia British