MUFG Partners Singlife on SGD 550 Million Bespoke Financing Facility, One of Singapore’s Largest Insurance Transactions

Leading homegrown financial services company Singlife and MUFG Bank, Ltd. (MUFG) today announced the successful completion of an SGD 550 million bilateral financing facility, one of the largest transactions in Singapore’s insurance sector to date.

MUFG acted as Singlife’s sole capital structure adviser and exclusive financier, delivering a customised SGD denominated financing solution tailored for Singlife’s capital management objectives. Proceeds from the facility will be used to redeem SGD 550 million of subordinated notes (the “Notes”), supporting the optimisation of Singlife's capital structure.

Singlife undertook a comprehensive review of its capital structure after its acquisition by Sumitomo Life. The review focused on preserving capital strength, optimising balance sheet efficiency, maintaining credit ratings strength and ensuring long-term funding certainty amid a volatile interest rate environment.

Working closely with MUFG, Singlife assessed multiple refinancing and capital structure alternatives that provided pricing stability, execution certainty and alignment with Singlife’s group profile.

This transaction underscores MUFG’s strength in delivering integrated financing solutions to the insurance sector, a core strategic focus within MUFG’s corporate & investment banking franchise. Leveraging structuring expertise, balance sheet capacity and disciplined risk management, MUFG supported Singlife’s refinancing timeline with a seamless end-to-end solution.

Sumit Behl, Chief Financial Officer, Singlife, said: “For Singlife, the refinancing reflects a proactive and disciplined approach to capital management, reinforcing our emphasis on financial resilience and sustainable long-term growth. The transaction supports Singlife’s capital and funding profile in line with our ratings considerations and long-term financial strategy.”

Danny Fischer, Managing Director and Head of Solutions for APAC, MUFG, said: “Against evolving capital needs and a volatile rate environment, execution certainty and consistency were key in delivering a holistic solution for Singlife. By combining structuring expertise, balance sheet capacity and disciplined risk management, MUFG worked closely with Singlife to deliver an integrated, seamless solution, aligned with their capital objectives and refinancing timeline.”

Ashurst LLP acted as legal counsel to MUFG. Singlife was advised by Allen & Gledhill on the redemption of the Notes.