Singtel returns to home market with first perp

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By Morgan Davis
08 Apr 2021

Singapore Telecommunications (Singtel) sold a subordinated perpetual bond in the Singapore dollar market this week, marking its return to the currency after more than a decade, as well as its first perp.

The A1/A rated company raised S$1bn ($746.6m) from its subordinated perpetual trade on Wednesday. The structure of the notes, S&P-compliant with a staggered step-up for equity treatment, was the first of its kind in the Singapore dollar market.

While Singtel has sold a smattering of dollar bonds ...

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