Frasers Hospitality Trust raises $100m in debut perpetual securities issuance
Demand exceeded $500 million.
Frasers Hospitality Trust has raised $100 million in its maiden issuance of perpetual securities at a fixed distribution rate of 4.45% per annum.
The issuance garnered strong investor interest, with orders in excess of S$500 million. Institutional investors accounted for 35% of the total orders.
The proceeds from the issuance of perps are intended to be used by FHT for financing potential acquisition and investment opportunities as well as working capital requirements and general corporate purposes including, asset enhancement initiatives.