Frasers Centrepoint Ltd. subsidiary Frasers Property Holdings (Thailand) Co. Ltd. established a 25.00 billion Thai baht debenture program, with the company acting as guarantor.
Frasers Property also priced an offering of up to 2.50 billion baht of debentures under the program. The debentures, which will be listed on the Thai Bond Market Association, carry a 2.94% fixed annual interest rate and will mature Dec. 21, 2024, with issuance expected Dec. 21.
Proceeds from the offering will be used to repay existing debt, for the company's investment activities and as working capital.
Bangkok Bank pcl, CIMB Thai Bank pcl and Standard Chartered Bank (Thai) pcl are the joint lead arrangers for the issue.
As of Dec. 15, US$1 was equivalent to 32.51 Thai baht.
