Frasers Property (SGX:TQ5) subsidiary Frasers Property Treasury proposed to issue SG$150 million worth of 3.5% fixed-rate bonds due 2036 under its SG$5 billion multi-currency debt issuance program, according to a Tuesday filing with the Singapore Exchange.
Oversea-Chinese Banking Corp. or OCBC (SGX:O39) has been appointed as joint lead manager and active book runner, while CIMB Bank's Singapore branch as joint lead manager and passive book runner.
Net proceeds from the bonds will be used for general corporate purposes, including refinancing existing borrowings, financing acquisitions and working capital.
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