Singapore

PRIVATE bank investors rushed for Frasers Centrepoint's 10-year bond on Thursday even as interest rates rose, following the central bank's depreciation move.

Frasers Centrepoint Ltd (FCL) raised S$250 million in 10-year, 4.25 per cent bonds with OCBC Bank the sole lead manager and bookrunner for the deal. This was FCL's inaugural 10-year bond transaction, said OCBC. Previous FCL issues were a perpetual issue in March 2015 and 7-year notes in September 2014.