According to the group, the decision to do so was influenced by the issuer’s longer-term interests and the current macroeconomic and interest rate environments. In addition, the decision was attributed to the diversification of sources of funding as well as the current market conditions for the issuance of similar yielding perpetual securities.
Frasers Property, on Dec 17, announced that it will not be redeeming the $300 million fixed-rate subordinated perpetual securities on the first call date on Jan 17, 2023.
The Series 003 securities were issued by Frasers Property Treasury and guaranteed by Frasers Property Limited under its $5 billion multicurrency debt issuance programme.
