News Releases

Singtel Group prices US$600 million 10.5-year notes at 4.5%

More than three times oversubscribed

Singapore, 2 March 2011 – Singapore Telecommunications Limited (Singtel) today announced that its wholly-owned subsidiary, Singtel Group Treasury Pte. Ltd. (SGT), priced US$600 million of 10.5-year notes on 1 March 2011, guaranteed by Singtel.

The note issue met with strong response from a wide range of high quality investors. The order book closed after registering approximately US$1.8 billion of interest and was oversubscribed by more than three times.

The US-denominated notes will carry an annual coupon of 4.5 per cent per annum and is drawn down under SGT’s S$10 billion Euro Medium Term Note Programme (Programme). The notes will mature in 2021.

This issue forms part of the long-term financing strategy and extends the debt maturity profile of Singtel and its subsidiaries (collectively referred to as Singtel Group). SGT will utilise the funds for general corporate purposes, including repayment of the Singtel Group’s maturing debts.

Ms Jeann Low, Singtel Group Chief Financial Officer, said: “We are pleased to have received very strong support from investors and that shows confidence in the Singtel Group’s credit quality which is among the highest in our industry.”

The notes are rated Aa2 by Moody’s Investors Service, Inc. and A+ by Standard & Poor’s respectively, in line with Singtel’s current credit ratings.

Application will be made for the listing and quotation of the notes on the Singapore Exchange Securities Trading Limited (SGX-ST). Admission to the Official List of the SGX-ST and quotation of the notes on the SGX-ST is not to be taken as an indication of the merits of SGT, Singtel, their respective subsidiaries and associated companies, the Programme or the notes. The SGX-ST assumes no responsibility for the correctness of any of the statements made or opinions expressed or reports contained herein.

BNP Paribas, Singapore Branch, The Hongkong and Shanghai Banking Corporation Limited and Morgan Stanley Asia (Singapore) Pte. acted as Joint Lead Managers and Bookrunners and Australia and New Zealand Banking Group Limited as Co-Manager.




This announcement is not an offer for sale of securities in the United States. The notes have not been and will not be registered under the U.S. Securities Act of 1933, and may not be offered or sold in the United States or to U.S. persons absent registration under, or an applicable exemption from, the registration requirements of the U.S. securities laws. No public offering of securities is being made in the United States or in any other jurisdiction where such an offering is restricted or prohibited.