Frasers Property to redeem S$700m 5% perpetual securities on March 9
FRASERS Property will be redeeming S$700 million of 5 per cent subordinated perpetual securities on March 9, which is the first coupon reset date, it said on Thursday.
The redemption price will be S$250,000 for every S$250,000 in nominal amount of perpetual securities, together with the distribution accrued to, but excluding, March 9. The distribution accrued will include any arrears of distribution and any additional distributions.
The perpetual securities will be redeemed by Frasers Property Treasury, the property developer's wholly-owned subsidiary. They were issued under Frasers Property's S$3 billion multicurrency debt issuance programme in 2014.
Frasers Property shares closed flat at S$1.65 on Thursday on an ex-dividend basis, before the announcement.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
Carnival’s Princess brand revises 2025 world cruise routes amid Red Sea tensions
Google to pay up to US$6 million to News Corp for new AI content, The Information reports
Restaurant Brands tops estimates as Burger King overhaul pays off
Yen falls after suspected intervention on Monday; eyes on Fed
US: Wall St opens lower on labour costs data
TikTok shop tops 500,000 US sellers after 2023 e-commerce launch