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Frasers Centrepoint subsidiary completes S$42M securities issue

Frasers Centrepoint Ltd.'s FCL Treasury Pte. Ltd. issued S$42 million of fixed-rate subordinated perpetual securities.

The securities were consolidated to a previous issuance of S$308 million under the same notes series, which represents the second tranche of the unit's S$5.0 billion multicurrency debt issuance program.

The Singapore Exchange Securities Trading Ltd. has granted its approval in-principle for the listing and quotation of the notes.

According to an earlier report, net proceeds will be funneled toward the company and its subsidiary's corporate requirements.

Oversea-Chinese Banking Corp. Ltd. is the sole global coordinator, lead manager and book runner for the issue.

As of Oct. 3, US$1 was equivalent to S$1.36.