Frasers Hospitality Trust raises S$100m in maiden perps issue, prices at 4.45%

FRASERS Hospitality Trust on Thursday said it raised S$100 million from its debut issuance of perpetual securities at a fixed distribution rate of 4.45 per cent per annum. Orders were in excess of S$500 million. Institutional investors made up 35 per cent of the total orders.

The proceeds from the issuance will be used for financing potential acquisition and investment opportunities as well as working capital requirements and general corporate purposes.