SingTel prices $600m in 10.5 year notes

SingTel, (ASX:SGT), the parent company of Optus, has revealed it has priced around $593.5 million worth of notes in a heavily oversubscribed issue

Optus parent SingTel (ASX:SGT) has announced it has priced $US600 million ($593.5 million) worth of medium-term notes in a thoroughly oversubscribed issue.

The notes, which mature in 2021, carry an annual coupon of 4.5 per cent per annum.

SingTel said its offer was oversubscribed by more than three times - the order book closed with $US1.8 billion worth of interest.

Group CFO Jeann Low said the keen interest “shows confidence in the SingTel Group's credit quality, which is among the highest in the industry.”

The Singaporean operator said it had drawn down the offer under its $S10 billion ($7.75 billion) Euro Medium Term Note Programme.

It added that it will use the funds as part of its long-term financing strategy, including repayment of maturing debts.

BNP Paribas, HSBC and Morgan Stanley Asia acted as joint bookrunners for the sale.

Application will be made for the shares to be quoted on the Singapore exchange.

SGT shares fell 1.3 per cent on Wednesday to $2.280.

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