In Singapore, Singtel Group Treasury – a group subsidiary – agreed upon a three-year S$2.5 billion committed revolving credit facility with 13 banks. These include all three major local banks as well as the Singapore branches of major foreign banks such as Bank of America, N.A., Sumitomo Mitsui Banking Corporation Singapore, the Hongkong and Shanghai Bank Corporation and Societe Generale (France).
SINGAPORE (Apr 24): Amid cash flow pressure from the Covid-19 pandemic, Singtel Group announced today that its wholly-owned subsidiaries, Singtel Group Treasury, and Australia-based Optus Finance, have secured S$4.17 billion worth of credit facilities for general corporate purposes and refinancing of existing facilities.
Said Group Chief Financial officer Lim Cheng Cheng, “The Singtel Group is very pleased with the level of support demonstrated by our bankers in Singapore and Australia. This reflects their confidence in the Singtel Group’s credit quality and business fundamentals.”
