14 Nov 2008
Singapore Telecommunications (SingTel) has secured SGD1.075 billion (USD710 million) in financing from a number of Asian banks. The operator has signed a five-year SGD350 million credit facility with a consortium of banks including The Bank of Tokyo-Mitsubishi, DBS Bank and Oversea-Chinese Banking Corporation. In addition, it has inked a 3.5-year revolving credit facility with a consortium that includes ANZ Banking Group, The Bank of Tokyo-Mitsubishi, Citibank, Commonwealth Bank and Westpac. SingTel will use the credit facility ‘to refinance existing facilities and for general working capital purposes,’ it said.