perpetual securities

REITs

LMIRT will pay distributions for its $120 mil 6.6% perpetual securities; deposits $4.0 mil with Citibank for coupon payment

SINGAPORE (June 15): The manager of Lippo Malls Indonesia Retail Trust (LMIRT) has announced Monday that it will be making the distribution payment according to the terms and conditions of the perp

REITs

ART sets precedence with perpetual securities; other REITs could follow

SINGAPORE (June 5): 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 dat

Financially Savvy

Developers clear up misconception around perpetual securities

SINGAPORE (May 22): 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 Mar

REITs

LMIRT in spotlight as margin financing could cease, while trust may elect not to pay distributions for perps

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.

Total compliance in financial reporting, but was it misleading?

(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 stand

ARA Asset Management issues $300 mil perpetual securities

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

Broker's Calls

New lease of positivity on Lippo Malls Trust in FY17

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

Broker's Calls

First REIT locks down future growth with steady 3Q results

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

Hyflux’s shares, preference shares, perps suffer selloff

SINGAPORE (Aug 23): Securities issued by Hyflux have been under selling pressure since Aug 12.

Olam to issue US$500 mil of perpetual capital securities

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.

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