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Frasers Property subsidiary plans 2nd drawdown from 25B-baht debt program

Frasers Property Ltd. said its Frasers Property Holdings (Thailand) Co. Ltd. subsidiary is planning a second issuance of debentures to be drawn from its 25.00 billion-Thai-baht program.

In a news release, the former Frasers Centrepoint Ltd. noted that it will announce in due course the terms of Frasers Property Holdings' proposed offering.

The Singapore-listed parent added that ahead of their issuance, the debentures have already been assigned a AA- credit rating with a stable outlook by TRIS Rating Co. Ltd.

In December 2017, the subsidiary first utilized the program upon its establishment through an issuance of up to 2.50 billion baht in 2.94% debentures due Dec. 21, 2024. Proceeds raised from the first offering were earmarked for the repayment of its existing debt, funding for investment activities and for working capital.

As of Feb. 6, US$1 was equivalent to 31.60 Thai baht.