By Jennifer Chiou
New York, March 5- Frasers Centrepoint Asset Management (Commercial) Ltd. announced the close of the non-renounceable sale of 116,789,400 total of series A convertible perpetual preferred units.
Of that total, 36,342,116 of the convertible preferreds were accepted and will be issued to holders of Frasers Commercial Trust units.
Through the vendor FCL Investments Pte. Ltd. and FCL Trust Holdings (Commercial) Pte. Ltd., Frasers Centrepoint Ltd. will hold the remainder for an aggregate of 306,157,884 total of the series A preferreds.
Unitholders will receive a prorated semiannual distribution on the convertible preferreds for the period from Oct. 1 to March 31.
The joint lead managers and underwriters were DBS Bank Ltd., BNP Paribas, Singapore Branch, Standard Chartered Securities Pte. Ltd. (formerly Cazenove & Co. (Singapore) Pte. Ltd.) and Oversea-Chinese Banking Corp. Ltd.
Questions may be directed to Jimmy Hui (65 6277 2506).
Property developer Frasers Centrepoint is a wholly owned subsidiary of Singapore's Fraser & Neave Ltd.
| Issuer: | Frasers Commercial Trust
|
| Issue: | Series A convertible perpetual preferred units
|
| Units: | 116,789,400 (36,342,116 to unitholders)
|
| Managers: | DBS Bank Ltd., BNP Paribas, Singapore Branch, Standard Chartered Securities Pte. Ltd. and Oversea-Chinese Banking Corp. Ltd.
|
| Announcement date: | March 5
|
| Settlement date: | March 9
|
| Stock symbol: | Singapore: A48U
|
| Stock price: | S$0.145 on March 5
|
© 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.
