SINGAPORE: Frasers Property AHL Limited has established an AUD 2 billion Multicurrency Debt Issuance Programme, which is unconditionally and irrevocably guaranteed by Frasers Property Limited.
In connection with the Programme, the Issuer has appointed Oversea-Chinese Banking Corporation Limited and Australia and New Zealand Banking Group Limited to act as the joint arrangers and dealers of the Programme.
Under the Programme, the Frasers Property AHL, subject to compliance with all relevant laws, regulations and directives from time to time, issue notes and perpetual securities in Australian dollars or any other currency as may be agreed between the relevant dealers of the Programme and the Frasers Property AHL.
Each series or tranche of Notes may be issued in various amounts and tenors, and may bear interest at fixed, floating, hybrid or variable rates as may be agreed between the relevant dealers of the Programme and the Issuer or may not bear interest.
The Notes and the coupons of all series shall constitute direct, unconditional, unsubordinated and unsecured obligations of the Issuer ranking pari passu, without any preference or priority among themselves, and pari passu with all other present and future unsecured obligations of Frasers Property AHL .
Perpetual Securities have no fixed maturities, may be issued in various amounts, may bear fixed or floating rates of distribution, and if so provided in the applicable pricing supplement, may have distributions deferred at the option of the Issuer. Senior Perpetual Securities and the coupons relating to them will constitute direct, unconditional, unsubordinated and unsecured obligations of the Issuer and shall at all times rank pari passu, without any preference or priority among themselves, and pari passu with all other present and future unsecured obligations of the Issuer.
Subordinated Perpetual Securities and the coupons relating to them will constitute direct, unconditional, subordinated and unsecured obligations of the Issuer and shall at all times rank pari passu, without any preference or priority among themselves, and pari passu with any Parity Obligations of the Issuer.
The Securities will be offered in Singapore pursuant to exemptions invoked under sections 274 and/or 275 of the Securities and Futures Act, Chapter 289 of Singapore, as modified or amended from time to time.
The net proceeds from each issue of Securities under the Programme will be used for the refinancing of existing borrowings, financing of potential acquisition and investment opportunities which the Company and its subsidiaries may pursue in the future as well as working capital requirements and the general corporate purposes of the Group, or as otherwise specified in the applicable pricing supplement.
Edited by Kazim Rizvi