Frasers Commercial Trust's China Square (Photo: REITsWeek)

Singapore-listed office REIT, Frasers Commercial Trust, announced on 15 March that it has issued SGD50 million in aggregate principal amount of 2.783% notes that will be due in 2021.

The notes, which have been issued through a wholly-owned subsidiary of the REIT’s trustee, are referred to as Series 003 of its SGD1 billion multicurrency medium term note programme.

DBS Bank has been appointed as the sole lead manager and bookrunner of the notes, which have been assigned a rating of “Baa2” by Moody’s Investors Service.

The notes are expected to be admitted to the official list of the Singapore Exchange with effect from 9.00 a.m. on 16 March 2017.

Frasers commercial Trust finished the trading day about 0.8% lower from its previous close on the SGX to end at SGD1.25.

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.