The notes, rated “BBB+” by S&P, will be issued on Aug 15 under the Reit’s S$1 billion multi-currency debt issuance programme
[SINGAPORE] Frasers Logistics & Commercial Trust (FLCT) is offering S$100 million in fixed-rate notes due 2034 at 2.45 per cent, its manager said on Monday (Aug 11).
They will be issued on Aug 15 under the real estate investment trust’s S$1 billion multi-currency debt issuance programme.
The notes have been assigned a “BBB+” rating by S&P Global Ratings.
Net proceeds from the offering will be used to refinance existing borrowings or fund acquisitions.
They may also be used for investments, asset-enhancement works and developments, as well as for working capital requirements and general corporate purposes, the manager said.
OCBC has been appointed as the sole lead manager and book runner for the Series 003 notes.
These notes will be issued in denominations of S$250,000 each.
Units of FLCT closed down 0.6 per cent or S$0.005 at S$0.88 on Monday before the announcement.
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