NetLink sets up S$1bn debt issuance programme
SINGAPORE, Aug 5 (IFR) - Singapore-listed NetLink NBN Trust (NNBNT) has established a multi-currency debt issuance programme of up to S$1bn (US$729m).
NetLink Treasury will be the issuer of the notes with NetLink NBN Management, in its capacity as trustee manager for the trust, as guarantor.
DBS and OCBC are joint arrangers and dealers for the programme, which will provide NNBNT with diversified sources of funds as part of its long-term financing strategies.
Under the programme, the fibre network services provider can sell senior and perpetual notes in various currencies and tenors. Proceeds will be used for general corporate needs, including debt refinancing and funding investments and working capital purposes.
NNBNT is a debut issuer in the Singapore dollar markets. It is 26.94%-owned by state-owned Temasek Holdings, which will lift its credit profile.
(Reporting by Kit Yin Boey; Editing by David Holland)
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