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Frasers Commercial Trust prices its S$60m 3.2% 2023 notes

A UNIT of Frasers Commercial Trust's (FCOT) trustee has priced the Reit's S$60 million 3.185 per cent notes, which mature on Feb 28, 2023 under a US$1 billion guaranteed multi-currency medium-term note programme.

The notes are expected to be issued on Feb 28 and will be unconditionally and irrevocably guaranteed by FCOT trustee British and Malayan Trustees, the manager of FCOT said in a filing with the Singapore Exchange on Wednesday.

They will be issued in denominations of S$250,000 and will be payable semi-annually in arrear, it added.

DBS Bank has been appointed the sole lead manager and bookrunner of the notes.

FCOT shares closed at S$1.43 on Wednesday before the announcement.

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