12 May 2014
Syndicate of international banks grants SingTel S$2.1 billion credit facility
Angela Lim and Sarah Ooi from the Banking & Finance Practice acted for a syndicate of 12 international banks in a S$2.1 billion syndicated revolving credit facility to SingTel Group Treasury Pte Ltd. The international banks are Bank of America, N.A., The Bank of Tokyo-Mitsubishi UFJ, Ltd., Citibank N.A., Credit Agricole Corporate and Investment Bank, Deutsche Bank AG, DBS Bank Ltd., The Hongkong and Shanghai Banking Corporation Limited, Mizuho Bank, Ltd., Oversea-Chinese Banking Corporation Limited, Standard Chartered Bank, Sumitomo Mitsui Banking Corporation and United Overseas Bank Limited.
The facility is secured by a corporate guarantee granted by Singapore Telecommunications Limited ("SingTel"). SingTel is Asia's leading communications group with presence in Asia and Africa and has over 400 million mobile customer base. It also has an extensive network of offices throughout Asia Pacific, Europe and the United States. Based on market capitalisation, it is the largest listed company on the Singapore Exchange.