S-REITs - Week 39 - 2024

( YTD: -9.37% | 5D: +1.75%)

23 Sept - ESR-LOGOS REIT Celebrates Grand Opening Of NTS Singapore's New Regional Hub At Newly Redeveloped 21B Senoko Loop

The grand opening was held on 20 September 2024 and was graced by distinguished representatives from the Embassy of the Kingdom of Netherlands in Singapore, the Singapore Economic Development Board, alongside key clients of NTS and the management teams of NTS and E-LOG.

The event celebrated the completion of a Built-to-Suit redevelopment project, which began with the objective of transforming an aging general industrial property into a modern, high-specifications property.

21B Senoko Loop is a high-specifications property located in the northern region of Singapore within the Woodlands Industrial Estate, an area with a limited supply of high-specifications properties. It is easily accessible from the Seletar Expressway and Bukit Timah Expressway.

Post-redevelopment, 21B Senoko Loop now comprises two interconnected high-specifications manufacturing blocks with high ceiling clearance and ancillary offices, of four and five storeys respectively, and partially equipped with air-conditioning with a combined gross floor area of 18,623 square metres (“sqm”). 21B Senoko Loop sits on a land area of 7,455 sqm and has a remaining land tenure of 29.1 years.

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( YTD: -2.02% | 5D: +1.57%)

20 Sept - Response to Media Articles in regards to Australian Financial Review dated 19 September 2024 “CapitaLand Executive allegedly stole $2.7 million” and The Edge dated 19 September 2024 “Funds missing from CLAS in Australia”

The Managers wish to inform that in relation to the matters reported in the Articles, CapitaLand Ascott Trust (“CLAS”) will be indemnified for the full amount of losses and accordingly, there will be no impact on the distribution per stapled security of CLAS (the “Stapled Security”) and net tangible assets per Stapled Security for the financial year ending 31 December 2024.

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( YTD: -16.09% | 5D: +1.39%)

23 Sept - Completion Of Divestment Of Flexhub

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( YTD: -4.65% | 5D: +0%)

23 -24Sept - Continues to do Daily Share Buy-back

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( YTD: -11.11% | 5D: +0%)

24 Sept - Update On The Status Of The EGM Requisition

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26 Sept - Receipt Of Letter From Trustee To Requisitionists

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( YTD: +4.37% | 5D: +2.38%)

19 Sept - Results Of The Preferential Offering

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( YTD: +15.79% | 5D: +1.54%)

26 Sept - OUE REIT Issues its First 7-Year Investment Grade Green Notes
Due 2031 at 3.90%

• Achieved peak orderbook of S$320 million at initial price guidance of 4.15%
  
  
• Offer subsequently upsized from initial target size of S$100 million to S$180 million
  
  
• Final pricing tightened to 3.90%, representing a 25 basis points (“bps”) compression from the initial price guidance
  
  
• Final orderbook stood at S$300 million (good at reoffer), representing an oversubscription of 1.7 times, with 70% allocated to institutional investors
  
  
• Average term of debt lengthened to 3.2 years from 2.7 years as of 30 June 2024 on a pro forma basis
  
  
• Only 6.8% of the total debt is due in 2025 post refinancing
  
  
• Weighted average cost of debt reduced from 4.7% per annum (“p.a.”) as of 30 June 2024 to 4.6% p.a. on a pro forma basis

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