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Frasers Logistics & Commercial Trust prices $175 mil bond due 2029

Bryan Wu
Bryan Wu • 1 min read
Frasers Logistics & Commercial Trust prices $175 mil bond due 2029
The senior notes will carry a coupon of 3.83% per annum, payable semi-annually in arrear. Photo: FLCT
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Frasers Logistics & Commercial Trust (FLCT) BUOU -

has priced a $175 million 5-year bond which will be issued on March 26.

Guaranteed by Perpetual (Asia) in its capacity as trustee of FLCT, the senior notes will carry a coupon of 3.83% per annum, payable semi-annually in arrear, and will mature on March 26, 2029.

The issue has an expected and guarantor rating of BBB+ by S&P Global Ratings.

The net proceeds from the issuance will be used for refinancing of existing borrowings, financing or refinancing of acquisitions, investments, asset enhancement works and developments, as well as working capital requirements and general corporate purposes.

DBS Bank and OCBC are serving as joint lead managers and bookrunners for the issuance.

Units in FLCT closed 1 cent lower or 0.98% down at $1.01 on March 19.

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