A subsidiary of Frasers Commercial Trust's trustee priced S$60.0 million worth of 3.185% notes due 2023, which will be issued under its S$1.00 billion multicurrency medium-term note program.

FCOT Treasury Pte. Ltd. is expected to issue the notes Feb. 28 in denominations of S$250,000 each.

Proceeds will be used to refinance the office-focused real estate investment trust's existing debt.

DBS Bank Ltd. is the sole lead manager and book runner for the debt offering.

As of Feb. 21, US$1 was equivalent to S$1.32.