S-REITs - Week 29 - 2024

( YTD: +17.65% | 5D: -9.09%)
Halt Dividend since 20 Mar 2023

16 July -  Fitch Downgrades Lippo Malls Indonesia Retail Trust's Rating To 'C'

• Downgraded to ‘C’ from ‘CCC’ with a recovery rating of ‘RR6’.
  
  
• The downgrade follows LMIR Trust’s announcement on 12 July 2024 that the tender offer for its senior unsecured notes due in 2026 would proceed and in Fitch’s view, such a tender offer constitutes a distressed debt exchange, as the transaction will lead to a material reduction in original terms of the notes.

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( YTD: -8.93% | 5D: +4.08%)

16 July - Entry Into GBP135 Million Facilities Agreement And Disclosure Pursuant To Rule 704(31) Of The Listing Manual Of Singapore Exchange Securities Trading Limited

• Further to the press release dated 4 March 2024 in relation to the securing of a committed offer from a group of financial institutions (“Committed Offer”), Elite UK REIT Management Pte. Ltd., in its capacity as manager of Elite UK REIT (the “Manager”), is pleased to announce that Elite Gemstones Properties Limited, a wholly owned subsidiary of Elite UK REIT, has on 15 July 2024 entered into a facilities agreement (“Facilities Agreement”) in relation to a 39 months term and revolving facilities of up to £135,000,000 (the “Facilities”).

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( YTD: -3.95% | 5D: -2.86%)

16 July - Notice To The Holders Of S$300,000,000 4.10 Per Cent Subordinated Perpetual Securities Issued By DBS Trustee Limited (As Trustee of PARAGON REIT) - Notice Of Redemption

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