PUBLISHED ONMay 29, 2026 10:35 AMBYSean LerSingapore-headquartered communications group Singtel on Friday (May 29) announced that it has secured a three-year $1.5 billion committed revolving credit facility with 11 banks.
The banks are:
The facility is guaranteed by Singtel and will be used for general corporate purposes, said Singtel Group in a news release.
The group's chief financial officer Arthur Lang said in a statement that the new credit facility reflects its banking partners' continued confidence in Singtel Group's strategic direction, business fundamentals and credit quality.
On May 18, the Infocomm Media Development Authority (IMDA) announced that it had suspended ongoing assessment of the then-proposed consolidation between telco operators M1 and Simba.
This follows the uncovering of alleged unauthorised use of radio frequency bands by Simba to provide mobile services.
Singapore-based asset manager Keppel, which owns M1, later announced that they will allow the sale and purchase agreement with Tuas-owned Simba to lapse on its May 21 deadline.
Keppel chief executive Loh Chin Hua was reported as saying that the company remains open to offers for M1, believing that the industry in Singapore is "in dire need of and will benefit from consolidation".
The $1.43 billion deal was eventually terminated by Tuas Limited on May 22.
Responding to questions about Singtel's interest in acquiring M1 at a media conference following the release of Singtel's full-year financial results for the full year that ended on March 31, Singtel group chief executive Yuen Kuan Moon said the telco has sought clarification from IMDA on whether it can participate in any further moves to consolidate Singapore's telecommunications market.
He added that an environment with four telco operators is not sustainable and would welcome news of market consolidation.
In its reply to state broadcaster CNA, IMDA said considerations for any assessment on mergers and acquisitions will include ensuring that there is no significant lessening of competition, adding that the transaction has to benefit consumers.
There is presently no indication that the credit facility is related to the clarification sought by Singtel.
Nonetheless, AsiaOne has reached out to both Singtel and IMDA to find out if there are any updates in relation to Singtel's clarification sought.
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