Frasers Centrepoint Trust prices S$30m notes due 2022 at 2.645%

THE trustee of Frasers Centrepoint Trust has priced S$30 million of notes due 2022 at 2.645 per cent.

The Series 102 notes under its S$1 billion multicurrency medium-term note programme will be issued on June 5 and will be unconditionally and irrevocably guaranteed by the FCT trustee, HSBC Institutional Trust Services (Singapore) Limited.

The Singapore branch of CIMB Bank as well as DBS Bank were the joint lead managers and bookrunners for the notes, which are expected to be assigned a rating of BBB+ by Standard & Poor's Rating Services.

They will mature on June 6, 2022 and bear a fixed interest rate of 2.645 per cent a year. The proceeds from the notes will be used to refinance existing borrowings of FCT.