Frasers Property prices S$200m notes due 2028 at 3%

FRASERS Property's wholly-owned subsidiary on Thursday priced S$200 million of fixed-rate notes due 2028.

The notes bear a coupon rate of 3 per cent per annum and are payable semi-annually in arrear, Frasers Property said in a bourse filing.

They will be issued under the A$2 billion multicurrency debt issuance programme established by the subsidiary and guaranteed by Frasers Property in February 2020.

Net proceeds from the issue will be used to finance or refinance new or existing assets considered as green or sustainable projects according to the FPA Sustainable Finance Framework.

The property developer expects the notes to be issued on Sept 23. They will mature on Oct 9, 2029. OCBC is the sole lead manager for the notes.

Shares of mainboard-listed Frasers Property closed flat at S$1.14 on Thursday.