Subscribe / Unsubscribe Enewsletters | Login | Register

Pencil Banner

Optus secures $1.2 billion credit facility with international banks

Brian Karlovsky | April 23, 2014
Optus has secured a $1.3 billion credit facility with 11 banks for general corporate purposes.

Optus has secured a $1.3 billion credit facility with 11 banks for general corporate purposes.

The new credit agreement is part of its parent company Singtel's credit facilities with international banks totalling S$3.5 billion.

The Optus Finance agreement is a three-year $1.2 billion revolving facility with 11 banks, including Westpac, ANZ and the Commonwealth Bank.

Bank of America, Barclays Bank, The Bank of Tokyo-Mitsubishi, BNP Paribas, Citibank, HSBC, JP Morgan Chase Bank, Mizuho Corporate Bank and the Oversea-Chinese Banking Corporation are also involved.

In Singapore, SingTel Group Treasury entered a three-year S$2.16 billion revolving credit facility with 12 international banks.

The funds will be used for general corporate purposes, and to refinance existing facilities, according to a company statement.

This follows Optus' $800 million deal, announced last week, to progressively migrate its hybrid fibre coaxial cable customers to the NBN as it is rolled out across the nation.

 

Sign up for CIO Asia eNewsletters.