By THE NATION
The debentures have maturity tranches ranging from three years to 10 years at an average coupon of 2.5 per cent.
The debentures were made available on January 7-8 and were more than two times oversubscribed, with strong interest from institutional investors, leading financial institutions, fund management companies and insurance companies.
United Overseas Bank Limited and Bangkok Bank Pcl were the underwriters to the issue. TRIS Rating assigned a rating on the proposed issue of debentures at A- with a stable outlook.
Sopon Racharaksa, president of FPT, said that the overwhelming response reflected the confidence investors had in Frasers Property Thailand.
The company will continue to grow its property platform in Thailand and extend its footprint through JV investments and strategic partnerships, Sopon said, adding, the funds from the debenture issuance will be used to support FPT’s capital expenditure and business operations.