Published March 10, 2009

6 banks keen to lend SingTel $650m

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AT least six banks are keen in joining a treasury arm of Singapore Telecommunications in a self-arranged $650 million three-year bullet loan, a Reuters publication, basis point, reported yesterday.

The six for the SingTel Group Treasury's loan are Bank of Tokyo-Mitsubishi UFJ, Calyon, DBS Bank, HSBC, OCBC Bank and United Overseas Bank.

Banks are being offered an all-in of 170 basis points for commitments of $100 million or more, or an all-in of 165 basis points for commitments of less than $100 million, it said.

The borrower may raise the loan to $1 billion depending on the demand and hopes to draw on it by the end of this month, it said.

SingTel could not be reached for immediate comment. -- Reuters