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FRASERS Centrepoint has increased the total size of its first retail bonds offering to S$500 million from an initial S$200 million, following strong investor demand.
The public offer of S$150 million was opened for subscription at 9am on May 13 and closed at noon on May 20; it was 3.9 times subscribed.
The placement tranche of S$50 million was fully subscribed within a day. Overall, the total offering was therefore about 3.2 times subscribed, Frasers Centrepoint said in a news release issued on Thursday evening. The public offer size has now been increased to S$450 million following the strong demand.
The seven-year bonds carry a fixed interest rate of 3.65 per cent per annum.