Jurisdiction - Singapore
WongPartnership Acts In Listing And Offering Of Stapled Securities In Frasers Hospitality Trust.

26 November, 2014


The Firm recently acted for DBS Bank Ltd., Standard Chartered Securities (Singapore) Pte. Limited, Morgan Stanley Asia (Singapore) Pte., and United Overseas Bank Limited, the joint bookrunners and underwriters in the listing and offering of 185,063,000 stapled securities in Frasers Hospitality Trust (comprising Frasers Hospitality Real Estate Investment Trust and Frasers Hospitality Business Trust) (“FHT”) on the main board of the Singapore Exchange Securities Trading Limited (“SGX-ST”).

The offer was made at an offering price of SGD 0.88 per stapled security, and consisted of an international offering made pursuant to Regulation S and a public offer in Singapore. The offer raised approximately SGD 367.9m.

The Firm also acted for Bank of China Limited, Singapore Branch, DBS Bank Ltd., and The Hongkong and Shanghai Banking Corporation Limited in respect of the provision of SGD 615m financing facilities to The Trust Company (Asia) Limited in its capacity as trustee for Frasers Hospitality Real Estate Investment Trust. The facilities were to acquire the initial property portfolio of Frasers Hospitality Real Estate Investment Trust on the listing of FHT, which comprised both direct property holdings as well as the direct or indirect acquisition of the shares of the entities holding the properties.

Joint Managing Partner of WongPartnership, Rachel Eng, advised the joint bookrunners and underwriters in the listing and offering of the stapled securities on the main board of the SGX-ST and Alvin Chia, Partner in the Banking & Finance Practice, acted for the banks in respect of the financing facilities to The Trust Company (Asia) Limited.


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