Frasers Hospitality Trust to redeem S$100m 4.45% perps on first call date
THE manager of Frasers Hospitality Trust (FHT) said the stapled group will redeem at par all the outstanding securities of its S$100 million, 4.45 per cent perpetual securities. It will do so on May 12, the first call date.
FHT will redeem S$250,000 for every S$250,000 in nominal amount of perps, together with distribution accrued to May 11. This includes any arrears of distribution and any additional distribution amounts, the manager said in a bourse filing on Monday.
The Central Depository (CDP) will present and surrender the global certificate on May 12 by paying the CDP paying agent. Following that, the perps will be cancelled and delisted from the Singapore bourse.
They were issued back in 2016, when FHT's manager said net proceeds will be used for the financing of potential acquisition and investment opportunities for Frasers Hospitality Real Estate Investment Trust (FH-Reit) and its subsidiaries. The proceeds will also be used for working capital requirements and general corporate purposes.
FHT is a stapled group comprising FH-Reit and Frasers Hospitality Business Trust.
Units of FHT closed at 55.5 Singapore cents on Friday, down 0.5 cent or 0.9 per cent.
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