Singtel Announces Pricing of Singapore's Largest Foreign Currency Digital Bond of US$100 Million

Singtel, as part of its commitment to support sustainability and the digitalisation of the financial ecosystem, today announced the successful pricing of Singapore's largest foreign currency digital bond.

The US$100 million, five-year digital Sustainability-Linked Bond (SLB) is a partnership by Singtel's wholly-owned subsidiary, Singtel Group Treasury (SGT), with UOB and ADDX. The digital SLB will be drawn down under SGT's existing S$10 billion Euro Medium Term Note Programme, guaranteed by Singtel. The SLB will carry a US$ fixed coupon rate of 3.56% per annum and will mature on 27 April 2027. The net proceeds from this issue will be applied by SGT to fund its ordinary course of business. The bond will be issued on 27 April 2022. Post hedging, the effective S$ interest rate is below 3% per annum.

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The SLB is launched under Olives, Singtel's sustainability financing programme and has been issued in accordance with the Singtel Group Sustainability-Linked Bond Framework established on 14 October 2021. The Singtel Group has committed to reducing its absolute greenhouse gas emissions (Scope 1 and 2 in tCO2e) by 2025, compared to a 2015 baseline. If the stated target is not met, the Singtel Group will, by the maturity date of the SLB, make additional investments into defined green efforts of an amount equal to not less than 0.25% of the outstanding aggregate principal amount of the SLB.