Singapore's Frasers Centrepoint establishes S$500 million note program

By Jennifer Chiou

New York, May 7 - Frasers Centrepoint Asset Management Ltd. announced that FCT MTN Pte. Ltd. has established a S$500 million multicurrency medium-term note program.

Frasers Centrepoint is the manager for Frasers Centrepoint Trust. FCT MTN is a wholly owned subsidiary of HSBC Institutional Trust Services (Singapore) Ltd., which is Frasers Centrepoint's trustee.

DBS Bank Ltd. and Oversea-Chinese Banking Corp. are the arrangers and dealers for the program.

Under the program, the issuer may sell notes in Singapore dollars or any other currency.

Proceeds will be used to refinance existing debt.

Standard & Poor's assigned the program a BBB rating.

The property developer is a wholly owned subsidiary of Singapore's Fraser & Neave Ltd.

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