Over $750 million of undrawn facilities are currently available. The trust’s aggregate leverage has increased to 36.2%, mainly due to debt-funded acquisition of a logistics property in Singapore, distribution payment and softening of AUD, EUR and GBP against the SGD.
Frasers Logistics and Commercial Trust (FLCT) has announced its 1QFY2025 ended December 2024 business update. The trust reported an active leasing momentum with overall positive rent reversions achieved. It has 175,000 sqm of leases and renewals, with logistics and industrial (L&I) rental reversions came in at 21.3% higher (outgoing vs incoming) and 41.8% higher (average vs average).
The trust has also continued its prudent capital management, with 4.9x interest coverage ratio, as compared to 5.0x in the previous quarter. The trailing 12-month borrowing cost stands at 2.9%, while the trailing three-month borrowing cost is at 3.1%.
