perpetual securities

On May 29, 2019, Ascott Residence Trust’s (ART) manager announced that it has decided not to redeem its 4.68% $250 million of perpetual securities on June 30, the first call date.

On May 13, during a 1HFY2020 results briefing by Frasers Property’s (FPL) management, there were some questions on the company’s higher gearing, which had risen to 106.8% by March 31, 2020, from 85.9% as at Sept 30, 2019. The compa

SINGAPORE (May 11): On May 5, OCBC Credit Research pointed out that Lippo Mall Indonesia Retail Trust did not accrue distributions to perpetual holders under its statement of distribution.

(Mar 18): Last week, I talked about how it can be difficult to interpret published financial statements because of overly ambitious objectives of the accounting profession, evolving reporting standards and the resulting vagaries that could sometimes trans

SINGAPORE (July 13): ARA Asset Management is issuing $300 million worth of perpetual securities carrying a coupon of 5.2%.

SINGAPORE (Nov 15): OCBC Investment Research has maintained its “buy” call on Lippo Malls Indonesia Retail Trust (LMIRT) with an unchanged fair value of 40 cents

SINGAPORE (Oct 20): OCBC Investment Research is maintaining its “hold” call on First Real Investment Estate Trust (REIT) with an unchanged fair value of $1.36, despite noting a “steady set of 3Q16 results”.

SINGAPORE (Aug 23): Securities issued by Hyflux have been under selling pressure since Aug 12. Besides its shares falling 5.7% to 50 cents, a tranche of perpetual securities the company issued only in May with a coupon of 6% have fallen 6.5% below par to

SINGAPORE (July 14): Olam International is to issue US$500 million ($674 million) of perpetual capital securities under its US$5 billion Euro Medium Term Note (EMTN) Programme.

SINGAPORE (May 27): Pawnbrokers Valuemax Group is issuing $50 million worth of fixed notes due 2018 at 5.5%.