By Marisa Wong
Morgantown, W.Va., June 27 – Frasers Hospitality Trust announced it plans to sell S$120 million of 2.63% five-year notes under its S$1 billion multicurrency debt issuance program.
The notes will be issued through FH-REIT Treasury Pte. Ltd., a wholly owned subsidiary of Perpetual (Asia) Ltd., which is the trustee of Frasers Hospitality Real Estate Investment Trust. Frasers Hospitality REIT and Frasers Hospitality Business Trust make up the stapled group Frasers Hospitality Trust.
DBS Bank Ltd. and CIMB Bank Bhd., Singapore Branch are the joint lead managers for the series 002 notes.
The notes will be callable in whole or in part on any interest payment date prior to maturity at a make-whole amount.
Proceeds will be used to refinance existing borrowings, to finance acquisitions and investments and for general corporate purposes.
The notes are expected to be issued on July 6.
Frasers Hospitality is a luxury hotel chain based in Singapore.
| Issuer: | FH-REIT Treasury Pte. Ltd.
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| Issue: | Fixed-rate notes
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| Amount: | S$120 million
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| Maturity: | July 6, 2022
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| Coupon: | 2.63%
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| Managers: | DBS Bank Ltd. and CIMB Bank Bhd., Singapore Branch
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| Call option: | In whole or in part on any interest payment date prior to maturity at make-whole amount
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| Announcement date: | June 27
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| Settlement date: | July 6
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