Frasers Centrepoint Trust issues S$200m 3-year notes at 3.2%

THE trustee of Frasers Centrepoint Trust (FCT) on Monday issued S$200 million of notes due 2023 with a 3.2 per cent fixed-rate coupon.

The Series 001 notes are issued under its S$3 billion multicurrency debt issuance programme.

Net proceeds will be used for refinancing existing borrowings and general working capital and/or capital expenditure requirements of FCT and its subsidiaries, FCT's manager said.

The three-year notes are unconditionally and irrevocably guaranteed by FCT's trustee, and have been assigned an issue rating of BBB by S&P Global Ratings.

DBS and OCBC are joint bookrunners for the notes, which are issued in bearer form and in denominations of S$250,000 each.

The Singapore Exchange has given in-principle approval for the listing and quotation of the notes, which are expected to be admitted to the official list of the bourse at 9am on Wednesday.

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FCT units were up S$0.02 or 1 per cent to S$2.08 as at 10.02am on Tuesday.