Frasers Centrepoint (SG:J69U) has released an update.
Frasers Centrepoint Trust (FCT), managed by Frasers Centrepoint Asset Management Ltd., has secured a S$200 million loan from United Overseas Bank Limited, with terms that include mandatory prepayment if there’s a change in management without bank consent or if Frasers Property Limited’s ownership in the manager falls below 51%. Additionally, the company must retain the appointed advisor for the management of the Century Square property. No Specified Conditions triggering events have occurred as of the date of the announcement.
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