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Frasers Centrepoint Trust

Frasers Centrepoint Trust raises $200m in private placement

The private placement was 2.5 times covered.

Frasers Centrepoint Trust (FCT) raised gross proceeds of $200.0m from its private placement.

In a bourse filing, FCT said its private placement was 2.5 times covered, drawing strong participation from new and existing institutional, accredited, and other investors.

FCT will list the new units on the SGX-ST on 5 February 2024 at 9:00 am.

FCT priced its private placement at $2.1800,  a 2.9% discount from the Adjusted volume-weighted average price (VWAP) of $2.2446 per unit.

The trust plans to use the gross proceeds from the private placement to repay existing debts worth $196.1m and to pay $3.9m for professional and other fees and expenses incurred or to be incurred from the private placement.
 

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