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Frasers Centrepoint shareholders OK redemption of 2 notes series

Frasers Centrepoint Ltd. said the extraordinary resolutions concerning the issue of two series of notes under its US$3.00 billion multicurrency debt program were passed at its meetings held Oct. 4.

After the extraordinary resolutions were passed, FCL Treasury Pte. Ltd., as the issuer, and the company entered into supplemental trust deeds with DBS Trustee Ltd. to include the call option, allowing the issuer to redeem the two notes series.

The company's subsidiary earlier received valid tenders for roughly S$67.8 million worth of 3.70% notes due 2019 and S$47.8 million of 3.80% notes due 2022.

The issuer will purchase the accepted notes Oct. 11, subject to the fulfillment of tender settlement conditions, for the purchase price, including accrued interest.

Further, it will redeem all of the notes in the two series Oct. 20, other than those that have already been accepted for purchase. The 3.70% and 3.80% notes will be redeemed at respective prices of 102.85% and 104.60% of their principal amounts, along with any accrued interest.

As of Oct. 4, US$ 1 was equivalent to S$1.36.