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

Tags Singtel OptusOptus financeWestpacANZ and the Commonwealth Bank

More about ANZ Banking GroupBarclays Global Investors AustraliaCitigroupCommonwealth Bank of AustraliaHSBCJP MorganMitsubishi AustraliaMizuho Corporate BankMorganOptusSingtelWestpacWestpac

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