Frasers Property to redeem S$600 million perpetual securities
FRASERS Property’s wholly owned subsidiary, Frasers Property Treasury (FPT), is redeeming S$600 million fixed-rate subordinated perpetual securities.
It will be redeemed at S$250,000 for every S$250,000 in nominal amount of the perpetual securities, together with distribution accrued to but excluding Apr 11, said Frasers Property on Monday (Mar 11).
The perpetual securities were issued by FPT with a coupon of 4.98 per cent under the group’s S$5 billion multicurrency debt programme established in January 2017.
The first tranche of S$400 million was issued in April 2019 and the second tranche of S$200 million was issued in July the same year.
On the redemption date of Apr 11, the global certificate will be presented and surrendered by the Central Depository to the issuing and paying agent. “Upon the redemption of the perpetual securities, the perpetual securities will be cancelled thereafter and delisted from the Singapore Exchange Securities Trading,” the group noted.
Frasers Property : TQ5 0% closed Friday down 0.6 per cent or S$0.005 at S$0.835.
A NEWSLETTER FOR YOU
Property Insights
Get an exclusive analysis of real estate and property news in Singapore and beyond.
KEYWORDS IN THIS ARTICLE
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
UK's FTSE 100 hits record highs on Anglo-American boost
Holiday Inn owner IHG’s Q1 revenue up 2.6%, leisure travel demand remains strong
SocGen Q1 profit slumps less than expected as investment bank surprises
WSJ moves Asia headquarters from Hong Kong to Singapore
Macquarie sees biggest profit dip in 15 years on commodities downturn
HSBC appoints ex-Citi banker as new Singapore head of global banking