Singapore-listed retail REIT Frasers Centrepoint Trust (FCT) (SGX:J69U) announced on April that it has issued SGD60 million in 2.90% notes that will be due 2019.

DBS Bank Ltd. has been appointed as the dealer of the notes.

The notes are issued under the SGD500 million multicurrency medium term note programme established on 7 May 2009. The programme limit was increased to SGD1 billion on 14 August 2013.

The notes have been assigned a rating of “BBB+” by Standard & Poor’s Rating Services. They will mature on 10 April 2019 and bear a fixed interest rate of 2.90% per annum payable semi-annually in arrear.

FCT has indicated that it will use the proceeds to refinance existing borrowings and investments of the REIT, fund asset enhancement works and for general working capital purposes.

Units of FCT last changed hands at SGD2.05.