iFast prices $100m notes due 2029 at 4.328%

It is payable semi-annually in arrears.

iFast Corporation has priced its $100m Series 001 notes due 2029 at 4.328%. 

The interest rate for the notes is payable semi-annually in arrears on 11 June and 11 December each year, commencing in 2024.

FLCT will issue the notes under the $300,000,000 multicurrency debt issuance programme established on 29 May.

The REIT plans to issue the Series 001 Notes on 12 June on SGX-ST at an issue price of 100% of their principal amount in denominations of $10,000 and integral multiples of $5,000 thereafter.

FLCT will use the net proceeds from the notes issuance for general corporate purposes, which may include refinancing existing borrowings, financing capital expenditure, investments such as capital injections into its UK-based digital bank, iFAST Global Bank Limited, and general working capital.