A subsidiary of Frasers Commercial Trust's trustee, British and Malayan Trustees Ltd., issued S$60.0 million of 3.185% notes due 2023.
The notes, issued by FCOT Treasury Pte. Ltd. under a S$1.00 billion medium-term note program, are unconditionally and irrevocably guaranteed by the trustee and are expected to be admitted to the official list of Singapore Exchange Securities Trading Ltd. from 9 a.m. Singapore time March 1.
DBS Bank Ltd. is the sole lead manager and book runner for the issuance.
As of Feb. 28, US$1 was equivalent to S$1.32.
