Frasers Property's Thai unit issuing 3 debenture offerings

It will use proceeds to repay debt for investment, working capital

A Thai unit of Frasers Property is making three more offerings under its 25 billion Thai baht (S$1.05 billion) debenture programme.

The offerings are expected to be issued on March 7.

The unit, Frasers Property Holdings (Thailand), will use the proceeds to repay debt, for investment and working capital.

Frasers told the Singapore Exchange that under the programme, Frasers Property Holdings (Thailand) has priced the offering of up to two billion baht in aggregate principal amount of 2.19 per cent debentures due 2021, up to one billion baht in aggregate principal amount of 2.55 per cent debentures due 2023, and up to two billion baht in aggregate principal amount of 3.54 per cent debentures due 2028.

Interest is payable on each series of debentures every six months. They will also be guaranteed by the company.

The debentures are being offered to institutional and high-net-worth investors on a private placement basis.

The debentures will be registered with the Thai Bond Market Association.

Bangkok Bank, Bank of Ayudhya and United Overseas Bank (Thai) have been appointed as the joint lead arrangers for the debentures.

Frasers Property, which was formerly known as Frasers Centrepoint, closed down two cents at $1.93 yesterday.

A version of this article appeared in the print edition of The Straits Times on March 03, 2018, with the headline 'Frasers Property's Thai unit issuing 3 debenture offerings'. Print Edition | Subscribe