Frasers Property’s green retail notes 1.64x oversubscribed

Following the oversubscription, the company raised its notes offer to $500m.

Frasers Property increased its final offer for its inaugural green retail notes to $500m from $420m following oversubscription.

In a bourse filing, the real estate company said its green retail notes received total valid applications amounting to $689.3m, a subscription rate of 1.64 times the initial offer.

Of the total valid applications, $444.3m were received for the public offer, whilst $245m were received for the placement tranche.

“As such, the final Public Offer is S$350 million and the final Placement tranche is S$150 million,” Frasers Property’s manager said.

“All valid applications under the Public Offer shall receive at least some allocation of the notes,” the manager added.

The bonds are expected to be issued on 16 September 2022 and will commence trading on the Main Board of the Singapore Exchange Securities Trading Limited at 9 a.m. on 19 September 2022 under the trading name “FPTREA S$650M4.49%B270916”.

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