By Marisa Wong
Los Angeles, March 19 – Singapore’s Frasers Logistics & Commercial Asset Management Pte. Ltd. priced S$175 million of 3.83% series 002 notes due 2029 (BBB+), according to a notice.
The notes will be issued through FLCT Treasury Pte. Ltd. under its S$1 billion multicurrency debt issuance program. They are guaranteed by Perpetual (Asia) Ltd., trustee of Frasers Logistics & Commercial Trust.
DBS Bank Ltd. and Oversea-Chinese Banking Corp. Ltd. are the joint bookrunners for the notes.
The notes may be redeemed in whole or in part at a make-whole amount plus interest to but excluding the redemption date.
Proceeds will be used to refinance existing borrowings, finance or refinance acquisitions, investments asset enhancement works and developments, as well as for working capital requirements and general corporate purposes.
The commercial property investor is based in Singapore.
| Issuer: | FLCT Treasury Pte. Ltd.
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| Guarantors: | Perpetual (Asia) Ltd. (trustee of Frasers Logistics & Commercial Trust)
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| Amount: | S$175 million
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| Issue: | Series 002 notes
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| Maturity: | March 26, 2029
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| Bookrunners: | DBS Bank Ltd. and Oversea-Chinese Banking Corp. Ltd.
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| Coupon: | 3.83%
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| Call: | In whole or in part at a make-whole amount plus interest to but excluding the redemption date
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| Announcement date: | March 19
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| Settlement date: | March 26
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| Rating: | S&P: BBB+
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