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Published on 7/15/2021 in the Prospect News Emerging Markets Daily and Prospect News Green Finance Daily.

New Issue: Frasers Logistics & Commercial unit sells S$150 million 2.18% notes due 2028

By Wendy Van Sickle

Columbus, Ohio, July 15 – Singapore’s Frasers Logistics & Commercial Asset Management Pte. Ltd. announced the pricing of S$150 million 2.18% series 001 notes due July 26, 2028 (BBB+), according to a notice.

The notes are being issued by FLCT Treasury Pte. Ltd. out of the company’s S$1 billion multicurrency debt issuance program. They are guaranteed by Frasers Logistics & Commercial Trust.

DBS Bank Ltd. and Oversea-Chinese Banking Corp. Ltd. are the joint bookrunners for the notes.

The notes may be redeemed in whole or in part at a make-whole amount plus interest to but excluding the redemption date.

Proceeds will be used to refinance eligible sustainable projects.

The commercial property investor is based in Singapore.

Issuer:FLCT Treasury Pte. Ltd.
Guarantor:Frasers Logistics & Commercial Trust
Issue:Series 001 notes
Amount:S$150 million
Maturity:July 26, 2028
Bookrunners:DBS Bank Ltd. and Oversea-Chinese Banking Corp. Ltd.
Coupon:2.18%
Call:In whole or in part at a make-whole amount plus interest to but excluding the redemption date
Announcement date:July 15
Settlement date:July 26
Rating:S&P: BBB+

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