Frasers Property prices S$100M second tranche of notes due 2028

Sign at Frasers Tower, owned by Frasers PropertySign at Frasers Tower, owned by Frasers Property

Frasers Property’s wholly owned subsidiary Frasers Property AHL has priced a second tranche of S$100 million of its 3.0 percent fixed-rate notes due 2028, the property developer said in a filing to SGX Monday.

The S$100 million notes will form a single series, series 001, with the S$200 million 3.0 percent fixed-rate notes due 2028, which were issued 23 September under the A$2 billion multi-currency debt issuance program, the filing said.

The series 001 tranche 002 notes are expected to be issued on 30 September, Frasers Property said.

The maturity date will be 9 October 2028, the filing said, but added the notes can be redeemed at Frasers Property’s option in whole or in part at any date prior to the maturity date at the “make-whole amount.”

The net proceeds will be used for the financing or refinancing of new or existing qualifying assets and projects meeting the eligibility criteria for green or sustainable projects under Fraser Property Australia’s framework, Frasers Property said.

OCBC, which was the sole lead manager for the series 001 tranche 001 notes, has been appointed the sole lead manager of the series 001 tranche 002 notes, the filing said.

The notes will be in denominations of S$250,000, the filing said.