Singtel’s Optus bags $1.64b credit facility with 12 banks in Australia

The facility will be used to refinance existing credit facilities.

Singtel unit, Optus Finance, has signed a $1.64b (A$1.95b) committed revolving credit facility with 12 banks in Australia.

The banks include ANZ, Bank of China, BNP Paribas, Citibank, Commonwealth Bank of Australia, DBS, Mizuho Bank, OCBC, SMBC, HSBC, UOB, and Westpac.

The facility will be used to refinance its existing credit facilities and for other general corporate purposes.

In addition, the facility is guaranteed by Optus Finance’s parent company, Singtel Optus, and certain of its subsidiaries.

“We thank our banks for their support and commitment. This demonstrates their confidence in the Group’s improving operating performance as we execute on our Singtel28 strategy for growth, as well as our business fundamentals and credit quality,” Arthur Lang, Singtel group CEO said.