June 9, 2025 -- Frasers Property (Thailand) Public Company Limited or “FPT”, and Frasers Property Thailand Industrial Freehold & Leasehold REIT or “FTREIT”, an industrial trust under the Frasers Property Thailand group, garnered strong investor support for their respective debenture offerings.
FPT raised THB 2,150 million across two tranches: 3-year zero-coupon bonds with a discount rate of 2.43%, and 3.5-year bonds with an interest rate of 2.65% per annum, offered to institutional investors over 14-15 May 2025. There was strong interest in the bonds with 1.5 times oversubscribed.
Meanwhile, FTREIT received an excellent response from institutional and high-net-worth investors for its bonds offering on 27-28 May 2025. The offering comprised three tranches: 3.5-year zero-coupon bonds with a discount rate of 2.78%, 5-year bonds with an interest rate of 3.23%, and 7-year bonds with an interest rate of 3.50% per annum. Total issuance amounted to THB 1,750 million and was successfully closed as targeted.
At a glance
- Company
- Frasers Property (Thailand) Public Company Limited (FPT) and Frasers Property Thailand Industrial Freehold & Leasehold REIT (FTREIT)
- Announcement
- Financing
Key figures
- Combined bond offerings
- THB 3,900 million
- FPT bond offering
- THB 2,150 million
- FTREIT bond issuance
- THB 1,750 million
- FPT offering oversubscription
- 1.5 times
Products and programs
The successful fundraisings by both entities are particularly notable amid the challenging economic pressures and uncertainties facing businesses domestically and globally, in particular felt by the local real estate sector with multiple headwinds affecting investor sentiment. However, the positive market response underscores the confidence investors place in FPT – a leading integrated real estate platform covering residential, industrial, and commercial asset classes, and FTREIT – Thailand’s top industrial REIT with over 2.3 million sqm of high-quality logistics and industrial assets under management in strategic locations.
Both the company and the trust, including their bonds, have received "A" credit ratings with "Stable" outlooks from TRIS Rating. Proceeds from the bonds will be used for debt repayment.
FPT and FTREIT continue to demonstrate stable business performance. In the first six months of FY 2025 (October 2024 – March 2025), FPT generated revenue of THB 6,298 million, a decrease of 4.4%, whilst achieving net profit of THB 550 million, an increase of 12.9% compared to the same period last year. Meanwhile, FTREIT recorded total revenue of THB 2,091 million, an increase of THB 116 million or 5.9%, with net profit on investment increasing 8.8% or THB 113 million to THB 1,388 million, compared to the same period last year.
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In brief
Frasers Property (Thailand) Public Company Limited (FPT) and Frasers Property Thailand Industrial Freehold & Leasehold REIT (FTREIT) completed bond offerings totaling THB 3,900 million. FPT raised THB 2,150 million through two tranches offered to institutional investors on May 14–15, 2025; the offering was 1.5 times oversubscribed. FTREIT issued THB 1,750 million across three tranches, offered to institutional and high-net-worth investors on May 27–28, and closed at its target. The entities said proceeds will be used to repay debt. Both received “A” credit ratings with “Stable” outlooks from TRIS Rating. For the first six months of FY 2025, FPT reported revenue of THB 6,298 million and net profit of THB 550 million. FTREIT reported total revenue of THB 2,091 million and net profit on investment of THB 1,388 million.
Key takeaways
- FPT raised THB 2,150 million, and its bond offering was 1.5 times oversubscribed.
- FTREIT issued THB 1,750 million in bonds and closed the offering at its target.
- The entities said bond proceeds will go toward debt repayment.
- Both entities and their bonds have an “A” rating with a “Stable” outlook from TRIS Rating.
