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Published Fri, Apr 5, 2019 · 09:50 PM
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Frasers Property

FRASERS Property will sell S$400 million of 4.98 per cent subordinated perpetual securities with a five-year reset under its S$5 billion multicurrency programme. The securities will be issued at 100 per cent of the nominal amount by its subsidiary Frasers Property Treasury.

The securities may be redeemed at the issuer's option after five years at 100 per cent of the principal amount, and will offer security holders make-whole protection if they are called before five years. If the securities are not called after five years, the distribution rate will be reset to an initial spread of 304 basis points over the prevailing five-year Singapore dollar swap offer rate plus a step-up of 100 bas…

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