Peerapat Srisukont, managing director of Frasers Property Industrial REIT Management (Thailand) Co Ltd (FIRM), which manages FTREIT, said on Tuesday that United Overseas Bank was serving as underwriter.

He said Series 1 was a debenture in the amount of Bt500 million with a maturity of four years and a fixed coupon rate of 2.63 per cent per annum, with redemption in 2023.

Series 2 is in the amount of Bt500 million with a maturity of seven years and a fixed coupon rate of 3.14 per cent, to be redeemed in 2026.

TRIS Rating on July 22 affirmed an “A/Stable” rating for the FTREIT debentures, the highest credit rating of any domestic industrial REIT.

The company plans to use the proceeds from the debentures to repay 2018 loans for assets acquisition.