Singapore’s Frasers Property eyes S$375 million green note offering

By William Gullotti

Buffalo, N.Y., Sept. 8 – Frasers Property Ltd., via its wholly owned subsidiary Frasers Property Treasury Pte. Ltd., intends to offer up to S$375 million green notes due 2027 at par, according to an announcement on Thursday.

The Regulation S notes are being issued under the subsidiary’s S$5 billion multicurrency debt issuance program and guaranteed by the parent company.

If the offering is oversubscribed, the issuer may upsize the issue up to S$650 million.

DBS Bank Ltd., Oversea-Chinese Banking Corp., Ltd. and United Overseas Bank Ltd. are the joint lead managers and joint bookrunners.

Further details, including final issue size and coupon rate, will be determined via bookbuilding.

According to the announcement, the offering will include a placement to institutional investors and a public offering open to retail investors in Singapore. After issue, the notes will be listed on the Singapore Exchange.

Frasers is a multinational real estate and property management company with headquarters in Singapore.

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