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Frasers Centrepoint’s wholly-owned subsidiary FCL Treasury will offer S$600 million subordinated perpetual securities with a distribution rate of 4.88 percent per annum, according to an SGX filing.
The issuer has appointed DBS Bank and Maybank Kim Eng Securities as joint global coordinators.
Including the two aforementioned entities, United Overseas Bank and Standard Chartered Bank were designated as joint bookrunners and joint lead managers for the perpetual securities.
Expected to be issued on Wednesday, 24 September, these securities are continuous and have no fixed final redemption date.
The net proceeds from the issuance will be used for general corporate purposes, such as financing investments and refinancing existing loans of the issuer and Frasers Centrepoint, as well as its subsidiaries, associated entities and joint venture companies.
It may also serve as general working capital and/or capital expenditure requirements.
Nikki De Guzman, Editor at CommercialGuru, edited this story. To contact her about this and other stories, email nikki@propertyguru.com.sg
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