SingTel To Avail Credit Facility Worth SGD 1.5 Billion

Singapore Telecommunications Ltd said on Tuesday that its unit signed a committed revolving credit facility worth S$1.5 billion ($1.13 billion) with 11 banks for general corporate purposes.

Among the banks were ANZ Group Holdings Ltd, Bank of America, and the Industrial and Commercial Bank of China, according to the Southeast Asian telecom firm.

Singapore Telecommunications Limited, or Singtel, is a Singaporean telecommunications conglomerate and one of the country's four major telcos. With 4.1 million subscribers, the company is Singapore's largest mobile network operator, and through subsidiaries, it has a combined mobile subscriber base of 640 million customers as of the end of fiscal year 2017.

Singtel has aggressively expanded outside of its home market, with full ownership of Australia's second largest telco Optus and 32.15% ownership of Bharti Airtel, India's second largest carrier.

Singtel has a large market share in both Australia and Singapore, with 82% of the fixed-line market, 47% of the mobile market, and 43% of the broadband market.