By Susanna Moon
Chicago, Feb. 12 - Frasers Centrepoint Trust MTN Pte. Ltd. issued S$55 million of 2.83% notes due Feb. 12, 2013 and S$25 million of 3.5% notes due Feb. 12, 2015 at par under its multicurrency medium-term note program.
DBS Bank Ltd. and Oversea-Chinese Banking Corp. Ltd. are the dealers of the notes.
Proceeds will be used to refinance short-term borrowings, including S$110 million incurred to help finance the acquisitions of Northpoint 2 and YewTee Point.
The company said it received approval in principle by the Singapore Exchange Securities Trading Ltd. for the listing on the exchange.
Frasers announced on May 7, 2009 that FCT MTN 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 and Oversea-Chinese Banking are also the arrangers and dealers for the program.
Under the program, the issuer may sell notes in Singapore dollars or any other currency.
Standard & Poor's assigned the program a BBB rating.
The property developer is a wholly owned subsidiary of Singapore's Fraser & Neave Ltd.
| Issuer: | Frasers Centrepoint Trust MTN Pte. Ltd.
|
| Amount: | S$80 million
|
| Issue: | Notes
|
| Managers: | DBS Bank Ltd., Oversea-Chinese Banking Corp. Ltd.
|
| Pricing date: | Feb. 12
|
|
|
| Three-year notes
|
| Amount: | S$55 million
|
| Maturity: | Feb. 12, 2013
|
| Coupon: | 2.83%
|
| Price: | Par
|
| Yield: | 2.83%
|
|
|
| Five-year notes
|
| Amount: | S$25 million
|
| Maturity: | Feb. 12, 2015
|
| Coupon: | 3.5%
|
| Price: | Par
|
| Yield: | 3.5%
|
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