Fraser and Neave pricing three-year SGD bonds: Client note

Fraser and Neave (F&N) 100Plus sports drinkFraser and Neave (F&N) 100Plus sports drink

Fraser and Neave is pricing three-year unsecured Singapore dollar bonds, according to a client note seen by Shenton Wire Thursday.

The final pricing guidance is at 3 percent, with a price at 100.25 of the face value, the client note said.

The size of the offering is listed as “benchmark” on the client note. Typically, a benchmark size for Singapore dollar bonds would range from S$200 million to S$300 million.

The beverage maker will use the proceeds to fund working capital and capital expenditure and for refinancing existing indebtedness, the client note said

The bonds will be issued on F&N’s S$2 billion multicurrency debt issuance program, the client note said.