Ballot / Allocation Results for the Frasers Property Green Notes are out!
Ballot / Allocation Table is set out below, and to sum up:
Everybody who applied up to $41,000 got their full allocation.
Everybody who applied $41,000 to $51,000 got $41,000.
Everybody who applied $51,000 to $100,000 got $50,000.
Everybody who applied $101,000 to $500,000 got $80,000.
If you applied higher than that, then well the 14 of you can just read the numbers off the Ballot / Allocation table below. 😉
Ballot / Allocation Results for Frasers Property Green Notes (4.49%)
Breaking down the application numbers for Frasers Property Green Notes (4.49%)
Diving deeper into the numbers.
Public Offer for Frasers Property Green Notes
The public offer size was $300 million, and received $444.28 million in applications.
This was 1.48 times subscribed.
The public offer was therefore upsized to $350 million.
Placement for Frasers Property Green Notes
The placement size was $100 million, and received $245 million in applications.
This was 2.04 times subscribed.
The placement was therefore upsized to $150 million.
Total offer size was therefore upped from $400 million to $500 million.
Was this a strong showing by Frasers Property?
For what it’s worth, I thought the application numbers were decently strong.
The retail tranche was not small at $300 million, and to receive $444 million in applications is pretty solid.
Looks like despite the rapidly rising interest rates, retail investors are confident enough with the Frasers brand name that they are willing to lend to Frasers for 5 years at 4.49%
Placement tranche looks strong too.
Word on the ground is that institutional / high net worth demand was strong and they had to close their books early, and that does look to be the case based off this numbers.
Kudos to Frasers Property.
They did a gutsy move by giving a big allocation to retail investors in this climate, and it paid off handsomely.
As always, love to hear what you think!
Refinancing tool
With rapidly rising interest rates – it might pay off to look into refinancing if your loan is coming due.
There’s a fantastic tool by Property Guru.
Do give it a try if you’re close to refinancing.
It’s completely free – you just input your mortgage details, and the tool lets you know whether you’ll save money by refinancing.
If the answer is yes, they’ll give you recommendations on what loan to take.
If the answer is no, you can set up a reminder for the tool to remind you when its time to refinance.
I did the same for my own mortgages and found it pretty useful.
Do give it a try here.
As always, this article is written on 16 Sep 2022 and will not be updated going forward.
If you are keen, my full REIT and stock watchlist (with price targets) is available on Patreon. You can access my full personal portfolio to check out how I am positioned for the coming downturn too.
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