Fraser and Neave’s five- and seven-year bonds have debuted on the Mainboard of the Singapore Stock Exchange under the stock codes “NU6Z” and “NU7Z” respectively.
Hui Choon Kit, Group Financial Controller of Fraser and Neave, says: "We are pleased with the successful issuance of our first retail bonds despite current market conditions. As a leading Asia Pacific enterprise, F&N is constantly exploring opportunities to expand and diversify our funding sources and indeed, the retail bond market has proven to be a viable avenue for us."
Tng Kwee Lian, Head of Fixed Income at SGX says: “The F&N bonds bring more variety to the suite of fixed income products available for investors to trade. By listing bonds for trading on SGX – the venue of choice for investors seeking access to Asia – companies broaden their capital-raising avenues and improve the price transparency of such instruments.”
F&N – a leading Pan Asian consumer group – issued USD220 million of five-year bonds and USD80 million of seven-year bonds.