Frasers Property Thailand's THB 5 Billion debenture 4.5 times oversubscribed underscoring investors' confidence in the integrated real estate platform

Wednesday 05 May 2021 16:09
Frasers Property Thailand's THB 5 Billion debenture 4.5 times oversubscribed underscoring investors' confidence in the integrated real estate platform
Frasers Property Thailand's THB 5 Billion debenture 4.5 times oversubscribed underscoring investors' confidence in the integrated real estate platform

Frasers Property (Thailand) Public Company Limited or "FPT", the first fully integrated real estate platform in Thailand, successfully issued a three-year debenture for THB 5 billion with an overwhelming oversubscription of 4.5 times. This response reflects the confidence our investors have in Frasers Property Thailand as a leading integrated real estate platform with multi-asset class expertise comprising residential, industrial and commercial businesses. Proceeds from the capital raised will be used to further strengthen FPT's real estate platform through investments and support the Company's capital expenditure and business operations in 2021.

Mr. Thanapol Sirithanachai, Country Chief Executive Officer, Frasers Property Thailand said that the Company had been receiving overwhelming responses from institutional investors for debenture subscriptions. The THB 5 billion debenture with the fixed interest rate at 2.16% at three-year maturity will be issued on 6 May 2021.

The institutional investors regard FPT as a resilient company with capabilities to grow sustainability and thrive amid challenges through its diversified portfolio in fulfillment of its 'One Platform' strategy. The combination of its strong financial position, financial discipline and effective management drove demand for FPT's debenture. Pursuing sustainable growth for the Company, the proceeds from the debenture issuance will be used for repayment of borrowings, future developments, and investments.

TRIS Rating has affirmed the company rating on Frasers Property (Thailand) PLC (FPT) at "A-" with a "stable" outlook. The rating reflects FPT's leading position as an integrated property development company, its growing brand recognition and revenue in the residential property market, and proven track record in ready-built factories and warehouses for rent. The rating also takes into consideration FPT's status as a strategically important member of Frasers Property, a multi-national developer-owner-operator of real estate products and services listed on the Main Board of the Singapore Exchange Securities Trading Limited. KASIKORNBANK Public Company Limited and United Overseas Bank (Thai) Public Company Limited are the arrangers of this debenture issuance.

About Frasers Property (Thailand) Public Company Limited
Frasers Property (Thailand) Public Company Limited ("FPT"), a subsidiary of Frasers Property Group is a leading integrated real estate platform with multi-asset class expertise. FPT through its subsidiary, Golden Land Property Development Public Company Limited ("GOLD") has businesses in Industrial, Residential, Commercial and Hospitality property in Thailand.

FPT is also the sponsor and manager of Thailand's largest industrial REIT, Frasers Property Thailand Industrial Freehold & Leasehold REIT ("FTREIT"), which is focused on industrial and logistics properties in Thailand; while GOLD is a sponsor and property manager of Golden Ventures Leasehold Real Estate Investment Trust ("GVREIT"), a REIT focused on commercial properties. FPT, FTREIT and GVREIT are listed on the Stock Exchange of Thailand.

For more information on FPT, please visit: frasersproperty.co.th.

About Frasers Property Limited
Frasers Property Limited ("Frasers Property" and together with its subsidiaries, the "Frasers Property Group" or the "Group"), is a multi-national developer-owner-operator of real estate products and services across the property value chain. Listed on the Main Board of the Singapore Exchange Securities Trading Limited ("SGX-ST") and headquartered in Singapore, the Group has total assets of approximately S$38.7 billion as at 30 September 2020.

Frasers Property's multi-national businesses operate across five asset classes, namely, residential, retail, commercial & business parks, industrial & logistics as well as hospitality. The Group has businesses in Southeast Asia, Australia, Europe and China, and its well-established hospitality business owns and/or operates serviced apartments and hotels in over 70 cities and 20 countries across Asia, Australia, Europe, the Middle East and Africa.

Frasers Property is also the sponsor of two real estate investment trusts ("REITs") and one stapled trust listed on the SGX-ST. Frasers Centrepoint Trust and Frasers Logistics & Commercial Trust are focused on retail, and industrial & commercial properties, respectively. Frasers Hospitality Trust (comprising Frasers Hospitality Real Estate Investment Trust and Frasers Hospitality Business Trust) is a stapled trust focused on hospitality properties. In addition, the Group has two REITs listed on the Stock Exchange of Thailand. Frasers Property (Thailand) Public Company Limited is the sponsor of Frasers Property Thailand Industrial Freehold & Leasehold REIT, which is focused on industrial & logistics properties in Thailand, and Golden Ventures Leasehold Real Estate Investment Trust, which is focused on commercial properties.

The Group is committed to inspiring experiences and creating places for good for its stakeholders. By acting progressively, producing and consuming responsibly, and focusing on people, Frasers Property aspires to raise sustainability ideals across its value chain, and build a more resilient business. It has committed to be a net-zero carbon corporation by 2050. Building on its heritage as well as leveraging its knowledge and capabilities, the Group aims to create lasting shared value for its people, the businesses and communities it serves. Frasers Property believes in the diversity of its people and are invested in promoting a progressive, collaborative and respectful culture.

For more information on Frasers Property, please visit frasersproperty.com or follow us on LinkedIn.

Source: Frasers Property (Thailand)