Frasers Prop unit sets up A$2b multicurrency debt issuance programme
Vivienne Tay
Singapore
A UNIT of Frasers Property has established a A$2 billion (S$1.87 billion) multicurrency debt issuance programme, the property developer said on Friday morning.
Under the programme, the issuer - Frasers Property AHL - may offer notes and perpetual securities in Australian dollars or any other currency that is agreed on between dealers of the programme and the issuer.
Net proceeds from any issuance under the programme will be used to refinance existing borrowings, finance potential acquisitions as well as investment opportunities by the Frasers Property group. Net proceeds will also be used for working capital requirements and the group's general corporate purposes. OCBC Bank and the Australia and New Zealand Banking Group have been appointed as the programme's joint arrangers and dealers.
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