By Marisa Wong
Madison, Wis., June 28 - Fraser and Neave, Ltd. announced that its wholly owned subsidiary F&N Treasury Pte. Ltd. issued S$50 million of series 12 floating-rate notes due June 28, 2018.
The interest rate for the notes is the three-month Singapore dollar swap offer rate plus 65 basis points per year. Interest will be payable quarterly.
The series 12 notes were issued under the S$2 billion multicurrency medium-term note program established in May 2007 and are guaranteed by the parent company.
Mitsubishi UFJ Securities International plc is the agent.
Proceeds will be used for refinancing existing debt and to provide working capital for Fraser and Neave's subsidiaries.
Based in Singapore, Fraser and Neave sells soft drinks, beer, dairy products and glass containers.
| Issuer: | F&N Treasury Pte. Ltd.
|
| Guarantor: | Fraser and Neave, Ltd.
|
| Issue: | Floating-rate notes
|
| Amount: | S$50 million
|
| Maturity: | June 28, 2018
|
| Coupon: | Three-month Singapore dollar swap offer rate plus 65 bps
|
| Agent: | Mitsubishi UFJ Securities International plc
|
| Announcement date: | June 28
|
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