- Frasers Property Thailand has successfully issued debentures worth THB 5 Billion with maturity tranches ranging from 3 years to 10 years at an average coupon of 2.5%.
Frasers Property (Thailand) Public Company Limited or “FPT”, a leading provider of integrated real estate platform, successfully issued debentures No. 1/2020 for THB 5 billion with maturity tranches ranging from 3 years to 10 years at an average coupon of 2.5%. The debentures were made available on 7 and 8 January 2020 and were more than two times subscribed, with strong interest from institutional investors, leading financial institutions, fund management companies and insurance companies. United Overseas Bank Limited and Bangkok Bank Public Company Limited were the underwriters. TRIS Rating assigned a rating on the proposed issue of debentures at A- with a stable outlook.
Mr. Sopon Racharaksa, President of FPT revealed, “The overwhelming response reflects the confidence our investors have in Frasers Property Thailand as an integrated property development company. We will continue to grow our property platform in Thailand and extend our footprint through JV investments and strategic partnerships.” The funds from the debenture issuance will be used to support FPT’s capital expenditure and business operations.