Frasers Centrepoint Trust’s (FCT’s) historic gearing level has been hovering at around 33% but that may soon be history with the REIT’s next financial results.
The REIT, which has a portfolio of mostly suburban retail malls across Singapore, jointly acquired a 50% stake in shopping mall Nex with its sponsor in early-2023.
The stake was acquired for SGD652.5 million from a Mercatus co-operative subsidiary and FCT paid for its part in this acquisition with borrowings.
Related: Frasers Centrepoint Trust to acquire stake in NEX with sponsor for SGD652.5 million
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