Frasers Property Prices Nearly SG$2 Million Additional Fixed-Rate Bonds

MT Newswires
Yesterday

Frasers Property (SGX:TQ5) has launched and priced its SG$1.8 million fixed-rate additional bonds under the SG$5 billion Multicurrency Debt Issuance Programme established in January 2017, according to a Monday filing with the Singapore bourse.

The additional notes will carry a fixed interest rate of 3.50% per annum, payable semi-annually in arrears, and will be issued at an issue price of 100% of their principal amount. The notes are scheduled to mature on March 18, 2037.

Oversea-Chinese Banking Corp. or OCBC (SGX:O39) has been appointed as the sole lead manager for the additional notes.

The additional notes will be fungible with new notes of SG$38.3 million, forming a SG$40 million Series 007 Notes issue.

Net proceeds will be used for general corporate purposes, including refinancing borrowings, acquisitions and investments, working capital and capital expenditure.

The bonds are expected to be listed around Sept. 21.

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