S&P rates Frasers Centrepoint notes BBB+

Standard & Poor's said it assigned its BBB+ issue rating to the unsecured notes issued by FCT MTN Pte Ltd., a wholly owned subsidiary of HSBC Institutional Trust Services (Singapore) Ltd. HSBC, in its capacity as trustee of Frasers Centrepoint Trust, unconditionally and irrevocably guarantees the notes.

The S$70 million of series 007 (3%) notes due 2020 are issued under FCT MTN Pte Ltd.'s S$500 million multi-currency medium-term note program.

FCT will use the proceeds to refinance its existing borrowings, as well as to finance its investments, asset enhancements and general working capital purposes.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.