Frasers Property to issue second tranche of notes due 2028 at 3%

FRASERS Property's wholly-owned subsidiary Frasers Property AHL has priced S$100 million in fixed-rate notes due 2028 with a coupon of 3 per cent.

The notes will form a single series with the S$200 million worth of sustainability notes issued on Sept 23, which are also due 2028 and carry a coupon of 3 per cent.

Both tranches fall under Frasers Property AHL's A$2 billion (S$1.96 billion) multicurrency debt issuance programme established in February 2020.

The second tranche of notes will be issued on Sept 30 and mature on Oct 9, 2028. Net proceeds will be used to finance or refinance new or existing qualifying assets and projects under Frasers Property Australia's sustainable finance framework established in 2020.

OCBC has been appointed the sole lead manager for both tranches of the notes.

Shares of Frasers Property ended flat at S$1.13 on Monday, before the announcement.