Singapore's Frasers lifts multicurrency MTN program to S$1 billion

By Marisa Wong

Madison, Wis., Aug. 14 - FCT MTN Pte. Ltd. increased its multicurrency medium-term note program to S$1 billion from S$500 million, according to an announcement by Frasers Centrepoint Asset Management Ltd., manager of Frasers Centrepoint Trust.

The program was established on May 7, 2009 and upsized on Aug. 14.

DBS Bank Ltd. is the agent of the notes, as previously noted.

The issuer said it will lend the proceeds of each issue of notes under the program to its parent company, HSBC Institutional Trust Services (Singapore) Ltd., which is the trustee of Frasers Centrepoint Trust.

According to a Wednesday announcement, Standard & Poor's affirmed its BBB+ rating on the program.

Frasers Centrepoint, a subsidiary of Frasers and Neave, Ltd., is a residential property developer and retail mall owner and operator in Singapore.

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