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Frasers Property is targeting a 6 Star Green Star Communities rating for Midtown MacPark, its residential development in Sydney, Australia, with a vision for the community to be carbon neutral in operation.

Frasers Property to release $200m sustainability notes

This is the group’s 2nd sustainability notes issuance in the SGD bond market.

Frasers Property Limited announced that Frasers Property AHL Limited (FPAHL), a subsidiary of Frasers Property Australia, has issued $200m sustainability notes. 

These will be due in October 2028 at a fixed interest rate of 3% per annum.

Loo Choo Leong, CFO, Frasers Property, explained this move as a recognition of the strong credentials in their portfolio.

“A strong focus on green and sustainable financing is integral to being a purpose-led organisation. We are encouraged by investors’ recognition of the strong sustainability credentials in our Australian portfolio and the Group’s financial strength. Creating places for good with long-term value for all stakeholders require sustainable financing that promotes better environmental and social outcomes," Loo said.

OCBC Bank will serve as the sole lead manager for the transaction.

The notes will be the first to be issued under FPAHL’s $1.97b (A$2b) multicurrency debt issuance programme. Proceeds will be to finance assets and projects under the Eligibility Criteria for Eligible Green or Sustainable Projects in FPA’s Sustainable Finance Framework.

This will also be the second effort by the group to issue sustainability notes in 2021. Previously, Frasers Logistics & Commercial Trust raised $150m in sustainability notes in the SGD bond market.

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