SingTel prices $200m in convertible notes
- 06 July, 2011 18:38
Optus parent SingTel (ASX:SGT) has priced S$250 million ($203.4 million) worth of convertible notes.
The notes, issued by subsidiary SingTel Group Treasury and guaranteed by SingTel, will mature in July 2016.
They carry an annual coupon of 2.15% per annum and are issued under SingTel's S$10 billion Euro Medium Term Note Programme, which was established in July 2010.
In a statement, SingTel said it would put the proceeds towards funding ordinary business activities, and that the issue is part of a long-term financing strategy.
SingTel and Optus earlier this month signed credit facilities with a number of banks worth a total of S$3.7 billion ($2.81 billion).
And in March, SingTel priced US$600 million ($561.2 million) worth of convertible notes under the same Euro Note programme.
The company reported a net debt for the year ending in March of S$6.02 billion, compared to assets of S$39.28 billion and net profit of of S$3.8 billion.
SGT shares declined 0.42% during Wednesday's trading to $2.390.