FPLSP 3.950% Perpetual Corp (SGD)

Bond Factsheet

Matured/ Called

Frasers Property Treasury Pte Ltd

Indicative

Full Lot

Bid Price

99.900

Change in Bid Price

Bid Yield (%)

4.395 %

Change in Bid Yield

0.008

Ask Price

100.100

Change in Ask Price

Ask Yield (%)

3.670 %

Change in Ask Yield

Indicative price as of 19 Dec 2022, 12:00am

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Bond Information

Frasers Property Treasury Pte. Ltd. owns and develops real estate properties. The Company provides multinational developer, owner and operator of real estate products and services across the property value chain. Frasers Property Treasury serves customers worldwide.

Bond Issuer

Frasers Property Treasury Pte Ltd

Guarantor

Frasers Property Ltd

Announcement Date

14 Sep 2017

Issue Date

21 Sep 2017

Maturity Date

Perpetual

Years to Maturity / Next Call

Perpetual / -

Modified Duration

Issue / Reoffer Price

100.000

Issue / Reoffer Yield

3.950

Coupon Type

Variable

Annual Coupon Rate

3.950

Coupon Frequency

Semi Annually

Seniority

Junior Subordinated

Reference Rate

Reset Date = 05 Oct 2022 & every 5 years thereafter
Reset Rate = Prevailing SGD 5Y SOR plus the Initial Spread (2.245%) + Step Up Margin (100bps in Yr 10)

ISIN

SG7HD2000000

CUSIP

AP1551658

Bond Currency

SGD

Total Issue Size

350,000,000

Min. Investment Quantity (Nominal)

SGD 250,000

Incremental Quantity (Nominal)

SGD 250,000

Bond Type

High Yield Corporate

Bond Sector

Financials

Bond Sub Sector

Real Estate Management and Development

Issuer Credit Rating (S&P/ Fitch)

***/ N.R

Bond Credit Rating (S&P/ Fitch)

***/ N.R

Shariah Compliant

Exchange Listed

SGX

Bond Feature(s)

Deferral Interest Payment

Cumulative Deferral

Any distribution deferred pursuant to this Condition 4(IV) shall constitute "Arrears of Distribution". The Issuer may, at its sole discretion, elect to (in the circumstances set out in Condition 4(IV)(a)) further defer any Arrears of Distribution by complying with the foregoing notice requirement applicable to any deferral of an accrued distribution. The Issuer is not subject to any limit as to the number of times distributions and Arrears of Distribution can or shall be deferred pursuant to this Condition 4(IV) except that this Condition 4(IV)(c) shall be complied with until all outstanding Arrears of Distribution have been paid in full.

Dividend Stopper

On any Distribution Payment Date, payments of all distribution scheduled to be made on such date are not made in full by reason of this Condition 4(IV), the Issuer and the Guarantor shall not and the Guarantor shall procure that none of its subsidiaries shall:

(i) declare or pay any dividends, distributions or make any other payment on, and will procure that no dividend, distribution or other payment is made on, any of the Guarantor's or the Issuer's Junior Obligations or, in relation to Subordinated Perpetual Securities only, (except on a pro rata basis) any of the Guarantor's or the Issuer's Parity Obligations; or

(ii) redeem, reduce, cancel, buy-back or acquire for any consideration, and will procure that no redemption, reduction, cancellation, buy-back or acquisition for any consideration is made in respect of, any of the Guarantor's or the Issuer's Junior Obligations or, in relation to Subordinated Perpetual Securities only, (except on a pro rata basis) any of the Guarantor's or the Issuer's Parity Obligations,

in each case other than (1) in connection with any employee benefit plan or similar arrangements with or for the benefit of the employees, directors or consultants of the Group or (2) as a result of the exchange or conversion of Parity Obligations of the Guarantor or the Issuer for Junior Obligations of the Guarantor or the Issuer, unless and until (A) (if Cumulative Deferral is specified as being applicable in the applicable Pricing Supplement) the Issuer has satisfied in full all outstanding Arrears of Distribution, (B) (if Non-Cumulative Deferral is specified as being applicable in the applicable Pricing Supplement) a redemption of all the outstanding Perpetual Securities has occurred, the next scheduled distribution has been paid in full or an Optional Distribution equal to the amount of a distribution payable with respect to the most recent Distribution Payment Date that was unpaid in full or in part, has been paid in full or (C) the Issuer or, as the case may be, the Guarantor, is permitted to do so by an Extraordinary Resolution (as defined in the Trust Deed) of the Perpetual Securityholders and/or as otherwise specified in the applicable Pricing Supplement.

Dividend Pusher

Look-back 6 months

Issuer Call

Callable on 05 October 2022 & every 6 months thereafter at 100.

Coupon Step

100 bps on 05 October 2027

Make Whole Call

Redemption on any distribution payment date prior to the first call date will be at make-whole (SGD SOR+0.75%)

Change Control Call

If so provided hereon, the Perpetual Securities may be redeemed at the option of the Issuer in whole, but not in part, on any Distribution Payment Date or, if so specified hereon, at any time on giving not less than 30 nor more than 60 days notice to the Perpetual Securityholders (which notice shall be irrevocable), at their Redemption Amount, (together with distribution (including any Arrears of Distribution and any Additional Distribution Amount) accrued to (but excluding) the date fi xed for redemption), following the occurrence of a Change of Control Event (as defined in the applicable Pricing Supplement).

Issuer call at par; else 100 bps step-up

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