Angela Lim, assisted by Jean Ang and Anne Cher, from the Banking & Finance Practice acted for a syndicate of 12 banks in a three-year S$2.16 billion committed revolving credit facility (the “Facility”) to SingTel Group Treasury Pte Ltd to finance its general corporate needs and to refinance its existing facilities. The 12 banks comprised the following:
(a) Australia and New Zealand Banking Group Limited;
(b) Bank of America, N.A.;
(c) The Bank of Tokyo-Mitsubishi UFJ, Ltd.;
(d) Citibank N.A.;
(e) Deutsche Bank AG;
(f) DBS Bank Ltd.;
(g) The Hongkong and Shanghai Banking Corporation Limited;
(h) Mizuho Corporate Bank, Ltd.;
(i) Oversea-Chinese Banking Corporation Limited;
(j) Standard Chartered Bank;
(k) Sumitomo Mitsui Banking Corporation; and
(l) United Overseas Bank Limited.
The Facility was guaranteed by Singapore Telecommunications Limited (“SingTel”).
SingTel Group Treasury Pte Ltd is a subsidiary of SingTel. SingTel is Asia’s leading communications group providing a portfolio of services including voice and data solutions over fixed, wireless and Internet platforms as well as infocomm technology and pay TV. The SingTel Group has presence in Asia and Africa with more than 400 million mobile customers in 25 countries, including Bangladesh, India, Indonesia, Pakistan, the Philippines and Thailand. It also has a network of 35 offices in 19 countries and territories throughout Asia Pacific, Europe and the United States.
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