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OUE REIT issues $120 mil of green notes due 2031
The manager of OUE REIT TS0U has issued $120 million of green notes under its $2 billion multicurrency debt issuance programme.
The notes will bear an interest rate of 3.9% per annum and interest on the notes will be payable semi-annually in arrear. The notes are set to mature on Sept 26, 2031.
The issuer may choose to redeem all of the notes, at its option, at any time at 100% of their principal amount plus accrued and unpaid interest if the amount outstanding is less than 10% of the principal amount originally issued.
According to the manager, the notes are set to be consolidated and formed under a single series with the REIT&rsquo s $180 mil of green notes, which were issued on Sept 26.
Oversea-Chinese Banking Corporation was appointed as the sole global coordinator, while DBS Bank and Oversea-Chinese Banking Corporation were the joint lead managers and bookrunners of the offering of the notes. Oversea-Chinese Banking Corporation Limited was also the green finance adviser to OUE REIT.
The net proceeds from the notes are expected to go towards the financing or refinancing, in whole or in part, new or existing eligible green projects that meet one or more of the categories of eligibility as recognised in the green bond principles and green loan principles in accordance with the OUE REIT&rsquo s green financing framework.
As at Nov 21, the manager says the notes have been issued at an issue price of 100.714% of the principal amount with accrued interest from Sept 26 to Nov 21.
'Cautious' better describes the bear
But what to do, he has had 7 rocket launch failures st Seatrium!
Who can blame a bear for being 'pessimistic'?
But what to do, he has had 7 rocket launch failures st Seatrium!
Who can blame a bear for being 'pessimistic'?
Delvyss ( Date: 19-Nov-2024 12:00) Posted:
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Nope. Just the nature of bear to be overly pessimistic (from seeing your posts in Seatrium).
MrBear12 ( Date: 19-Nov-2024 10:52) Posted:
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I thot this was sunset reit. Other much bigger fish playing
Delvyss ( Date: 19-Nov-2024 10:25) Posted:
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This one is ready for sunrise
Not my Paragon, its OBS's.
Mine is Caveron Reits, a reit for cave men and bears.
Mine is Caveron Reits, a reit for cave men and bears.
Delvyss ( Date: 15-Nov-2024 16:39) Posted:
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Yes MrBear12.
This one have to be in safe deposit box for a while.
Just like your Paragon Reit. Haha:)
MrBear12 ( Date: 15-Nov-2024 16:02) Posted:
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Very hard to achieve so soon a near 45 % increase.
This one gonna wait like many reits.
Sorry Delvyss
This one gonna wait like many reits.
Sorry Delvyss
Delvyss ( Date: 15-Nov-2024 15:13) Posted:
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TP 40c
Delvyss ( Date: 15-Nov-2024 09:23) Posted:
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" OUE REIT - DPU supported by resilient rental reversion "
https://www.poems.com.sg/stock-research/OUECR.SG/
" Fed seen on track to cut rates next week and in December "
https://www.reuters.com/markets/rates-bonds/traders-stick-bets-25-bps-fed-rate-cuts-nov-dec-2024-10-31/
Wow. Does not sound good. With such tourism revenue from Taylor Swift and Bruno Mars this year and they cannot report good numbers, I dread what it would look like next year when there are no such megastar event in Singapore. With this REIT heacily reliant on tourism and the continued lacklustre spending from Chinese tourist, I fear for this REIT next year.
Joelton ( Date: 24-Oct-2024 11:41) Posted:
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OUE Reit Q3 net property income drops 3.7% to S$60.3 million
The Reit records revenue of $74.8 million, down 1.3 per cent year on year
OUE Real Estate Investment Trust : TS0U 0%(Reit) reported a 3.7 per cent dip in net property income in the third quarter to S$60.3 million, from S$62.7 million in the year-ago period.
The slight decline was due to an upward revision of prior years&rsquo property tax for Hilton Singapore Orchard and Crowne Plaza Changi Airport, the Reit&rsquo s manager said on Wednesday (Oct 23).
Revenue for Q3 stood at S$74.8 million, down 1.3 per cent from S$75.8 million in the year before.
Han Khim Siew, chief executive officer of the Reit&rsquo s manager, said: &ldquo OUE Reit&rsquo s strategy of having a balanced portfolio continued to deliver resilient performance in Q3 2024. In the commercial segment, our Singapore offices secured high occupancy and strong rental reversion despite a softening of the near-term leasing market.
&ldquo In the hospitality segment&hellip Crowne Plaza Changi Airport enjoyed robust performance following its successful asset enhancement programme last year.&rdquo
The commercial segment recorded revenue of S$47 million, 1.1 per cent lower year on year due to lower contribution from Lippo Plaza. As at Sep 30, the Reit&rsquo s committed occupancy for its Singapore office properties stood at 95.4 per cent. It reported positive rental reversions of 10.8 per cent for office lease renewals.
Revenue from the hospitality segment fell 1.7 per cent to S$$27.8 million, with the decrease attributed to the normalisation of tourist spending on accommodation compared to last year.
Revenue per available room (RevPar) increased 0.3 per cent year on year to S$296. In particular, Crowne Plaza Changi Airport&rsquo s RevPar grew by 30.3 per cent to S$259 within the same period.
Looking ahead, OUE Reit&rsquo s manager said while global economic uncertainties might impact leasing sentiment in the near term, delayed office completions and a more favourable interest rate environment are expected to support the office demand.
&ldquo The tourism recovery is expected to continue its growth trajectory with improved global flight connectivity, the implementation of visa-free travel between China and Singapore and new tourism offerings. However, cheaper tourist regional destinations, the absence of star-studded concerts, as well as weaker Mice pipeline will weigh on tourism performance,&rdquo the manager said.
Ripe time?
https://www.ouereit.com/portfolio-overview.html
- 2 hotels in prime tourist catchment in Singapore
- 4 Grade A office properties strategically located in Singapore' s central business district
- 1 retail property, a high end retail mall within Singapore Orchard
https://www.ouereit.com/portfolio-overview.html
" Oue REIT Achieves Four-Star Gresb Rating And Boosts Score To 82 Points "
https://investor.ouereit.com/news.html/id/2513735
https://investor.ouereit.com/news.html/id/2513735
Looks like they are hungry to buy hotels to add to the portfolio.
Whether that is a positive or negative depends on what they buy, the price and how they fund it.
Whether that is a positive or negative depends on what they buy, the price and how they fund it.
Delvyss ( Date: 30-Sep-2024 10:19) Posted:
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Any potential corporate developments for this ?
Alignment ( Date: 27-Sep-2024 22:21) Posted:
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There are at least 2 differences, one specific for commerical REITs and one more general to value/high div yield stocks.
The specific difference is work from home - covid has fundamentally changed (reduced) demand for commercial property space. Some countries more than others, so US impacted far worse than Singapore.
The general difference is rise in long term cost of capital since 2019. US 10 year bond yields are currently double the 2019 level, because long term US inflation expectations now are far higher than they were in 2019, due to deglobalisation, climate change, green economy etc. Fall in Fed rates will not change this.
The specific difference is work from home - covid has fundamentally changed (reduced) demand for commercial property space. Some countries more than others, so US impacted far worse than Singapore.
The general difference is rise in long term cost of capital since 2019. US 10 year bond yields are currently double the 2019 level, because long term US inflation expectations now are far higher than they were in 2019, due to deglobalisation, climate change, green economy etc. Fall in Fed rates will not change this.
stonkmaster ( Date: 27-Sep-2024 23:36) Posted:
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What?s the reason it was 50 cents before Covid?
Alignment ( Date: 27-Sep-2024 22:21) Posted:
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Sure, if it goes to 50, then it would be almost a double bagger.
But is achieving 50 realistic? That is not so clear. The fact someone was willing to pay 50 for it before Covid does not mean someone is willing to pay that for it today. The world has changed a lot since the beginning of 2020.
But is achieving 50 realistic? That is not so clear. The fact someone was willing to pay 50 for it before Covid does not mean someone is willing to pay that for it today. The world has changed a lot since the beginning of 2020.
Delvyss ( Date: 26-Sep-2024 16:28) Posted:
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