By Marisa Wong
Morgantown, W.Va., June 13 – Frasers Centrepoint Trust priced S$50 million of 2.76% five-year notes on Monday, according to a company announcement.
The series 010 notes (expected: /BBB+/) will be issued under the company’s S$1 billion multicurrency medium-term note program through FCT MTN Pte. Ltd., a wholly owned subsidiary of HSBC Institutional Trust Services (Singapore) Ltd. HSBC Institutional Trust, the trustee for Frasers Centrepoint, will guarantee the notes.
Proceeds will be used to refinance secured bank borrowings due in July and to finance general working capital purposes.
Frasers Centrepoint, a subsidiary of Frasers and Neave, Ltd., is a residential property developer and retail mall owner and operator in Singapore.
| Issuer: | FCT MTN Pte. Ltd. (for Frasers Centrepoint Trust)
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| Guarantor: | HSBC Institutional Trust Services (Singapore) Ltd.
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| Issue: | Medium-term notes, series 010
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| Amount: | S$50 million
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| Maturity: | June 21, 2021
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| Coupon: | 2.76%
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| Pricing date: | June 13
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| Settlement date: | June 21
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| Rating: | S&P: BBB+ (expected)
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