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Optus secures $1.2 billion credit facility with international banks

Optus secures $1.2 billion credit facility with international banks

Part of parent company SingTel's S$3.5 billion credit facilities with 12 banks

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.

Read more: ING Direct signs on to new Eftpos payments hub

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Tags Singtel OptusWestpacOptus financeANZ and the Commonwealth Bank

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