Frasers Centrepoint Trust prices S$200 million perpetual securities at 3.98%

[SINGAPORE] Frasers Centrepoint Trust’s (FCT) trustee HSBC Institutional Trust Services has priced S$200 million subordinated perpetual securities at 3.98 per cent under its S$3 billion multicurrency debt issuance programme.

The securities will be issued in denominations of S$250,000 each, and OCBC has been appointed as the sole lead manager, said FCT’s manager in a bourse filing on Tuesday (Jun 24).

The distribution rate of 3.98 per cent per annum will be payable semi-annually in arrears, from and including the issue date of Jul 2, 2025 to, but excluding, Jul 2, 2030.

The securities may be redeemed in whole, but not in part, on Jul 2, 2030 and each distribution payment date thereafter at the redemption amount, noted the manager.

It added that the net proceeds from the issuance will be used for new investments, distributions, financing any asset enhancement works, and refinancing any existing borrowings of the group, on top of financing the group’s corporate activities and working capital.

The securities will be listed on Singapore Exchange on Jul 3, 2025.

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Units of FCT closed up 0.5 per cent, or S$0.01, at S$2.23, before the announcement.