By Marisa Wong
Madison, Wis., April 10 – FCT MTN Pte. Ltd. issued S$60 million of four-year notes under its S$1 billion multicurrency medium-term note program on Friday, according to an announcement by Frasers Centrepoint Asset Management Ltd., manager of Frasers Centrepoint Trust.
The notes (BBB+//) have a fixed coupon of 2.9%.
DBS Bank Ltd. is the dealer.
The MTN program was established on May 7, 2009 and upsized from S$500 million on Aug. 14, 2013.
The issuer said it will lend the proceeds from the notes issue to its parent company, HSBC Institutional Trust Services (Singapore) Ltd., which is the trustee of Frasers Centrepoint Trust. The trustee will in turn use the proceeds to refinance the trust’s existing borrowings and to finance investments and general working capital purposes.
Frasers Centrepoint, a subsidiary of Frasers and Neave, Ltd., is a residential property developer and retail mall owner and operator in Singapore.
| Issuer: | FCT MTN Pte. Ltd.
|
| Issue: | Medium-term notes
|
| Amount: | S$60 million
|
| Maturity: | April 10, 2019
|
| Dealer: | DBS Bank Ltd.
|
| Coupon: | 2.9%
|
| Settlement date: | April 10
|
| Rating: | Standard & Poor’s: BBB+
|
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