About $325.0 million from the gross proceeds will be used for FCT’s revolving credit facilities, pending the deployment of the proceeds of the equity fund raising to fund the ARF purchase acquisition.
Following the issuing of 244,681,000 private placement units in Frasers Centrepoint Trust (FCT), which raised gross proceeds of some $575.0 million, FCT’s manager announced on Oct 7 that it will be using some $405 million for its credit facilities and bank loans.
