Frasers Centrepoint has enough acceptances to redeem S$125 million of bonds

FRASERS Centrepoint Ltd (FCL) has received enough acceptances from holders of S$125 million worth of bonds to carry out an early redemption exercise following a bondholders' meeting, the property developer announced on Monday.

FCL offered to redeem its S$75 million of 3.7 per cent notes due 2019 at 102.85 per cent of the principal amount, and to redeem its S$50 million of 3.8 per cent notes due 2022 at 104.6 per cent of the principal amount.

Investors holding more than 90 per cent of each series have validly offered their bonds for sale ahead of an Oct 4 meeting to vote on the early redemption, FCL said.

Following the meeting, FCL expects to be able to redeem all of the notes under both series.