Unscathed by the downswing conditions of the global economy, Singapore Telecommunications Ltd. (Singtel), the largest telecommunication company in South-East Asia said today it has raised about $1.075 billion loan from banks in Singapore and Australia to renew the financing of its debt and for working capital.

“We are pleased with the support demonstrated by our bankers in Australia and Singapore and their confidence in the SingTel group,”Chief Financial Officer Jeann Low said in a statement.

As a part of the arrangement, SingTel has taken a five-year, S$350 million credit facility with Bank of Tokyo-Mitsubishi UFJ Ltd., DBS Group Holdings Ltd. and Oversea-Chinese Banking Corp, said the company.

Additionally, its Sydney-based unit SingTel Optus Pty has picked up $725 million loan with five banks in a separate transaction, which will be taken care by Australia & New Zealand Banking Group Ltd., Bank of Tokyo-Mitsubishi UFJ, Citibank NA, Commonwealth Bank of Australia and Westpac Banking Corp., SingTel said.

The two loans- SingTel facility and Optus loan will mature in November 2013 and April 2012 respectively.