It ranks amongst Singapore’s largest insurance financings.

Staff Reporter

, Singapore

Photo by Koda Bookkeeping via Unsplash

It ranks amongst Singapore’s largest security financings.

MUFG Bank and Singlife person completed a $550m bilateral financing facility, ranking amongst nan largest transactions successful Singapore’s security sector.

MUFG acted arsenic superior building advisor and financier for nan facility, whilst Singlife will usage nan proceeds to redeem $550m of subordinated notes.

The transaction follows a reappraisal of Singlife’s superior building aft its acquisition by Sumitomo Life, according to a property release.

The superior reappraisal focused connected improving equilibrium expanse efficiency, maintaining in installments ratings, and enhancing backing certainty. Singlife assessed refinancing alternatives to unafraid pricing stableness and execution certainty.

Sumit Behl, Chief Financial Officer of Singlife, said nan transaction strengthens nan company’s superior and backing profile.

Danny Fischer, Managing Director and Head of Solutions for APAC astatine MUFG, said nan financing aligns pinch Singlife’s superior objectives and refinancing timeline.

Ashurst LLP acted arsenic ineligible counsel to MUFG, whilst Allen & Gledhill advised Singlife connected nan redemption of nan notes.

Join Insurance Asia community

Since you're here...

...there are galore ways you tin activity pinch america to advertise your institution and link to your customers. Our squad tin thief you creation and create an advertizing campaign, successful people and digital, connected this website and successful people magazine.

We tin besides shape a existent life aliases integer arena for you and find thought leader speakers arsenic good arsenic manufacture leaders, who could beryllium your imaginable partners, to subordinate nan event. We besides tally immoderate awards programmes which springiness you an opportunity to beryllium recognized for your achievements during nan twelvemonth and you tin subordinate this arsenic a subordinate aliases a sponsor.

Let america thief you thrust your business guardant pinch a bully partnership!