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Frasers Property's Thai unit prices 3 more debenture offerings totalling up to 5b baht
FRASERS Property said on Friday that its subsidiary, Frasers Property Holdings (Thailand), is making three more offerings under its 25 billion-Thai baht (S$1.05 billion) debenture programme, which are expected to be issued on March 7.
In a filing to the Singapore Exchange, Frasers said that under the programme, Frasers Property Holdings (Thailand) has priced the offering of up to two billion baht in aggregate principal amount of 2.19 per cent debentures due 2021, up to one billion baht in aggregate principal amount of 2.55 per cent debentures due 2023, and up to two billion baht in aggregate principal amount of 3.54 per cent debentures due 2028.
Frasers added that interest is payable on each series of debentures for every six months throughout the tenor of the relevant series of debentures, and that the debentures will be guaranteed by the company.
The debentures are offered to institutional investors and high net worth investors on a private placement basis, in reliance on a regulation of the Capital Market Supervisory Board of Thailand, pursuant to the registration statement and draft prospectus which became effective on Friday. The debentures will be registered with the Thai Bond Market Association, Frasers said.
Bangkok Bank Public Company Limited, Bank of Ayudhya Public Company Limited and United Overseas Bank (Thai) Public Company Limited have been appointed as the joint lead arrangers for the debentures.
Frasers Property Holdings (Thailand) will use the proceeds received from the offering of the debentures for the repayment of existing debts, investment, and financing its working capital.