S-REITs - Week 24 - 2024

( YTD: -22.29% | 5D: -3.17%)

MPACT has entered into a S$130,000,000 term loan facility 

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( YTD: -7.02% | 5D: +0%)

OUE REIT Completes its First Investment Grade Green Notes Issuance

• Achieved peak order book in excess of S$475 million at initial price guidance of 4.35%
  
  
• Offer subsequently upsized from initial target size of S$150 million to S$250 million
  
  
• Final pricing tightened to 4.10%, representing a 25 basis points (“bps”) compression from the initial price guidance
  
  
• Final order book was S$425 million (good at reoffer), with 74% of the final allocation going towards institutional investors
  
  
• No refinancing requirement until second half of 2025, where only 14.4% of total debt is due post- issuance on a pro forma basis
  
  
• Post-issuance, proportion of fixed-rate debt significantly increases from 60.0% as of 31 March 2024 to 70.6% on a pro forma basis

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( YTD: -16.28% | 5D: -5.26% )

Digital Continues to Share Buy-back this week

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( YTD: -24.14% | 5D: -1.49% )

12 June 2024 - Proposed Divestment of Mapletree Logistics Warehouse (Xian) Co., Ltd. in China

• The sale consideration, which is subject to post-completion adjustments, is estimated to be RMB70.5 million (approximately S$13.1 million)
  
  
• The sale consideration comprises the adjusted net asset value of the WFOE, taking into account its interest in the Property of approximately RMB70.5 million, which is 0.7% above the Property’s valuation of RMB70.0 million as at 31 March 2024, and intercompany loans granted to the WFOE.

Refer to link for full details, please click here

13 June 2024 -  Proposed Divestment Of 119 Neythal Road

• Entered into a Purchase Agreement with an unrelated third party for the proposed divestment of 119 Neythal Road in Singapore (“the Property”) at a sale price of S$13.8 million. 
  
  
• JTC Corporation has granted in-principle approval for the transaction subject to the parties complying with the stipulated conditions.

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14 June 2024 -  Completion Of Divestment Of 30 Tuas South Avenue 8

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( YTD: -15.00% | 5D: -1.45% )

1) Change - Announcement Of Re-Designation Of Independent Non-Executive Director To Non-Independent Non-Executive Director

• Re-Designation of Ms Veronica Julia McCann from Independent Non-Executive Director to Non-Independent Non-Executive Director.

2) Change - Announcement Of Appointment Of Professor Koh Cher Chiew Francis As Audit And Risk Committee Chair

• Appointment of Professor Koh Cher Chiew Francis as Audit and Risk Committee Chair

Refer to link for full details, please click here

( YTD: -13.58% | 5D: +0% )

1) Tenancy Of 30 & 32 Tuas Avenue 8 Singapore 639246 & 639247

• wishes to update unitholders of Sabana Industrial REIT (“Unitholders”) that it has, on 14 June 2024 at 4 PM, exercised its right of re-entry under the Lease Agreement in respect of the Premises, and has taken possession of the Premises
  
  
• The Manager will actively market the Premises to seek replacement tenants

Refer to link for full details, please click here

2) Letter To Requisitionists Regarding Extraordinary General Meeting Requisition Notice

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( YTD: -8.57% | 5D: -1.03% )

S$50 Million Revolving Credit Facility

• Starhill Global REIT Trustee was granted a three-year unsecured and committed revolving credit facility of S$50 million (the “Facility”) to extend the Facility for five years from 30 September 2024, subject to the conditions precedent being fulfilled.

Refer to link for full details, please click here