FCL's Thai unit prices 2.5b baht of 7-year debentures at 2.94% under new programme

SINGAPORE - Frasers Centrepoint's Thailand subsidiary has priced the first 2.5 billion baht of a 25 billion baht debenture programme.

The new debentures bear a coupon of 2.94 per cent and mature in 2024.

Proceeds will be used to repay existing debt, investment, financing working capital or any combination of the three.

Frasers Centrepoint, a property developer, said on Nov 23 that the debentures had been rated "AA-" with a stable outlook by TRIS Rating Co.