Singtel Australian unit prices $200m note tranche at 2.84%

Net proceeds will be swapped into Australian dollars for Optus operations.

Singtel’s Australian subsidiary Singtel Optus Pty Limited, through wholly owned unit Optus Finance, has priced $200m in 10-year fixed-rate notes to be issued on 30 June.

The notes will be denominated in Singapore dollars and carry a coupon of 2.84% per annum, according to a bourse filing.

They will mature on 30 June 2036.

Optus Finance will draw down the notes under its $4.43b (€3b) Euro Medium Term Note Programme.

Net proceeds will be swapped into Australian dollars and used by Optus to fund its ordinary course of business.

Singtel said the issuance forms part of its long-term financing strategy and will extend the debt maturity profile of the group and its subsidiaries.

The notes are guaranteed by Singtel Optus and certain subsidiaries.

United Overseas Bank has acted as the sole lead manager and bookrunner for the issuance.

$1 = €0.68

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