Singtel subsidiaries secure $3 billion in bank credit facilities

Singapore Telecommunications’ (Singtel) subsidiaries have secured close to $3 billion in bank credit facilities.
Singtel broadband SingaporeThe deals include S$3.45 billion ($2.4 billion) of facilities for Singtel Group Treasury and A$800 million ($510 million) for its Australian subsidiary Optus Finance. The funds will be used for refinancing and general purposes, Singtel said.

Credit ratings agencies Fitch and S&P Global this year downgraded Singtel, citing weak growth prospects and the potential need for higher capital expenditure.

HOOQ Digital, a video streaming service majority owned by Singtel, last month said it was filing for liquidation while Singtel has said there is no certainty over a mooted A$2 billion sale of Australian telecom towers.

Latest

More like this
Related

Operator strategies for green network development

As energy costs account for approximately 20 percent of...

Airtel strategies towards using emerging technology FSOC

Airtel India, which has more than 400 million mobile...

TRAI implements SMS traceability framework to combat spam

The Telecom Regulatory Authority of India (TRAI) has successfully...

e& pioneers Nokia’s network slicing solution for gaming applications

e&, in collaboration with Nokia, has become the first...