Bangkok - 11 March 2022
Frasers Property (Thailand) Public Company Limited (“FPT”), a leading integrated real estate platform in Thailand, successfully issued THB 4 billion debentures with two times subscription. This response reflects the confidence institutional investors have in Frasers Property Thailand as a resilient integrated real estate platform with multi-asset class expertise comprising residential, industrial and commercial businesses.
FPT’s senior unsecured debentures with maturity tranches ranging from three to five years at an average coupon of 2.33% were made available on 9-10 March 2022 and have been issued today, 11 March 2022. The debentures received overwhelming response and strong interest from institutional investors. Kasikornbank Public Company Limited and United Overseas Bank (Thai) Public Company Limited are the arrangers of this debenture issuance.
Mr. Thanapol Sirithanachai, Country Chief Executive Officer of Frasers Property (Thailand) Public Company Limited said: “Despite economic uncertainties and inflationary pressures, FPT’s debentures issuance received overwhelming responses from institutional investors, reflecting their confidence in FPT’s business potential and growth strategy. We are encouraged by the continued support from our investors. Proceeds from the capital raised will be used for the repayment of borrowings, future developments, and investments to further strengthen our business operations. To maintain the Company’s resilience and enable FPT to sustain and thrive amid global challenges, we remain committed to our growth strategy and will continue to proactively manage our multi-asset portfolio.”
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 with a diversified portfolio of multi-asset classes, which provide the Company stability through recurring revenue streams from the rentals of its industrial and commercial properties on top of sales income from residential properties. The rating also takes into consideration FPT’s status as a strategically important member of its parent company Frasers Property Limited, a multi-national developer-owner-operator of real estate products and services listed on the Main Board of the Singapore Exchange Securities Trading Limited.
