Fraser's Commercial Trust's China Square, SingaporeFraser's Commercial Trust's China Square, Singapore

Frasers Commercial Trust (SGX:ND8U) has used part of the proceeds from a private placement exercise earlier in the year to make partial prepayment of a loan facility.

The prepayment, which amounts to SGD58.4 million, was made towards the SGD365.0 million transferable term loan facility taken in September 2014 with a 5-year agreement.

The Singapore-listed office REIT made a placement of 96 million new units i at an issue price of SGD1.48 earlier this year.

“The proceeds from the private placement have been fully utilised and the utilisation is in accordance with the stated use of the gross proceeds of the private placement, said the REIT.

Units of Frasers Commercial Trust fell by 3.8% today to close at SGD1.27 on the Singapore Exchange on weak economic data from China.

By Ridzwan Rahmat

Ridzwan has been analysing REITs and business trusts since 2008, and personally manages a portfolio comprising mainly of SGX-listed REITs. He founded REITsWeek in 2013.