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【OUE Com Reit TS0U 交流专区】华联商业房地产投资信托 OUE COMMERCIAL REIT
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OUE Commercial Trust said to plan 6.8% yield in $400 mil IPO
Source: Bloomberg | Publish date: Thu, 9 Jan 11:04
http://www.theedgesingapore.com/the-daily-edge/business/46849-oue-commercial-trust-said-to-plan-68-yield-in-400-mil-ipo.html
OUE Commercial Trust, a spinoff from Singapore’s OUE, plans to offer a 6.8% yield for its about $400 million initial public offering, according to two people with knowledge of the matter.
The trust, which will be backed by properties including the OUE Bayfront office tower in downtown Singapore, intends to start marketing the deal next week, said the people, who asked not to be named as the process is private. It plans to sell the units at 80 Singapore cents each, they said.
OUE Commercial Trust intends to offer a dividend yield of 6.8% for this year and 6.9% for fiscal 2015, according to the people. Two calls to OUE Ltd.’s head office in Singapore seeking comment went unanswered.
The offering will be the second trust OUE has listed in the past six months. OUE Hospitality Trust, which owns a hotel and mall in the city’s Orchard Road shopping district, raised S$600 million from an IPO in July last year. Units of OUE Hospitality Trust are unchanged since they started trading.
OUE agreed to buy the U.S. Bank Tower in Los Angeles, California’s tallest building, for US$367.5 million ($467.7 million) last year. It is controlled by Executive Chairman Stephen Riady, the son of Lippo Group founder Mochtar Riady. Indonesia-based Lippo Group’s businesses include real estate, financial services and food across Asia. 本帖最后由 icy97 于 2-2-2014 06:09 PM 编辑
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楼主 |
发表于 23-1-2014 02:38 AM
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发表于 27-1-2014 05:36 PM
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发表于 27-1-2014 05:37 PM
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楼主 |
发表于 2-2-2014 06:12 PM
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OUE Commercial Trust falls in debut trading
Source: Bloomberg | Publish date: Mon, 27 Jan 15:05
http://www.theedgesingapore.com/the-daily-edge/business/47075-oue-commercial-trust-falls-in-debut-trading.html
OUE Commercial Trust, the second trust Singapore developer OUE has listed in the past six months, fell on its first day of trading amid concerns that the yield and credit rating are lower than its peers.
The units slid as much as 3.8% to 77 cents before trading at 78 cents at 2:20 p.m. local time. The stock was sold at 80 cents each in its initial public offering. The REIT raised $346.4 million, offering 208 million units to the public and selling an additional 225 million units to cornerstone investors.
The trust has a provisional rating of Ba1 from Moody’s Investors Service, one level lower than investment grade. The rating is in a range that’s speculative and subject to substantial credit risk, according to its prospectus. OUE Commercial plans to offer a dividend yield of 6.8% for this year with income support from OUE; without the support, the yield is 5.56%, it said.
“The yield without income support isn’t that attractive,” said Vikrant Pandey, an analyst at UOB Kay Hian Pte in Singapore. “That coupled with a credit rating that is below investment grade is also affecting the sentiment.”
OUE Commercial will be backed by the OUE Bayfront office tower in downtown Singapore and the Lippo Plaza property in Shanghai, according to the prospectus.
OUE Hospitality Trust, which owns a hotel and mall in the city’s Orchard Road shopping district, raised $600 million from an IPO in July last year. The stock rose 0.6% to 88 cents. In the past six months, the stock has fallen 1.7%, compared with the 6.2% decline in the Singapore benchmark Straits Times Index.
OUE bought the U.S. Bank Tower in Los Angeles, California’s tallest building, for US$367.5 million ($468.9 million) last year. It is controlled by Executive Chairman Stephen Riady, the son of Lippo Group founder Mochtar Riady. Indonesia-based Lippo Group’s businesses include real estate, financial services and food across Asia. |
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楼主 |
发表于 19-5-2014 02:10 AM
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