Frasers Logistics & Commercial Trust (FLCT) has announced the pricing of its $100m 2.45% notes, set to mature on 15 February 2034. The notes, issued under the $1b Multicurrency Debt Issuance Programme, are guaranteed by Perpetual (Asia) Limited in its capacity as trustee of FLCT. Oversea-Chinese Banking Corporation Limited is the sole lead manager and bookrunner for the issuance.
The Series 003 Notes, expected to be issued on 15 August 2025, will be available in denominations of $250,000 each. They have been assigned a “BBB+” rating by Fitch Ratings. The notes offer a fixed interest rate of 2.45% per annum, payable semi-annually. The issuer, FLCT Treasury Pte. Ltd., retains the option to redeem the notes prior to maturity at a make-whole amount.
Proceeds from the issuance will be utilised for refinancing existing borrowings, financing acquisitions, investments, asset enhancements, and general corporate purposes. The notes are offered to institutional and accredited investors in Singapore, in accordance with the Securities and Futures Act 2001.
An application for listing the notes on the Singapore Exchange Securities Trading Limited (SGX-ST) will be made, with approval indicating no assessment of the merits of the issuer or the notes. This issuance marks a strategic move for FLCT to strengthen its financial position and support future growth initiatives.
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