FLCT prices $175m Series 002 notes at 3.830%

The bonds are due in five years.

Frasers Logistics and Commercial Trust (FLCT) has priced its $175m Series 002 notes due 2029 at 3.830%. The interest rate for the notes is payable semi-annually in arrears.

FLCT will issue the notes under the $1,000,000,000 Multicurrency Debt Issuance Programme established by  FLCT Treasury and Perpetual (Asia) Limited.

The REIT will issue the Series 002 Notes on 26 March in registered form and in denominations of $250,000 each.

FLCT will use the net proceeds from the notes issuance to refinance existing borrowings, finance or refinance acquisitions, investments, asset enhancement works and developments, and working capital requirements and its general corporate purposes and its subsidiaries.