SingTel note issue positive
SINGAPORE Telecommunication Ltd has raised $ US600 million ($ 593.35 million) through a 10.5-year note issue that will be used for general corporate purposes and repayment of debt. SingTel, the parent of Australian telco Optus, said the note issue met with strong response from a wide range of high-quality investors and the order book closed after registering $ US1.8 billion ($ 1.78 billion) of interest. It was oversubscribed by more than three times. The US dollar-denominated notes will carry an annual coupon of 4.5 per cent per year.