This article was originally published on Tuesday, 20 August 2019 at 20:24 SGT; it has since been updated to include Singtel, Yanlord Land, Soilbuild Business Space REIT, SPH REIT, Del Monte Pacific, Yoma Strategic and Synagie. The item on Frasers Logistics & Industrial Trust was also updated.
These are Singapore companies which may be in focus on Wednesday, 21 August 2019: Frasers Logistics & Industrial Trust, Venture Corp., Eagle Hospitality Trust and Spackman Entertainment.
Singtel’s wholly owned subsidiary Singtel Group Treasury (SGT) has priced US$750 million of 10-year U.S. dollar-denominated notes at 2.375 percent amid strong demand, the telco said in a filing to SGX Wednesday.
Moody’s Investors Service assigned Singtel Group Treasury’s (SGT) proposed 10-year U.S.dollar benchmark notes an A1 rating with a negative outlook, the ratings agency said Tuesday.
Frasers Logistics & Industrial Trust
Frasers Logistics & Industrial Trust said Tuesday its proposed acquisition of 12 properties in Germany and Australia was approved at an extraordinary general meeting of shareholders.
In a separate filing to SGX, the trust said it had completed the acquisition of the Australian properties for around A$125.5 million, or around S$116.8 million. Around S$126.4 million, or around 49 percent of the gross proceeds from a private placement, was used to finance the Australian acquisitions and to pay fees and expenses, the filing said.
Yanlord Land’s Hong Kong subsidiary has mandated DBS Bank, HSBC and Standard Chartered Bank (Singapore) as joint global coordinators, bookrunners and lead managers to arrange a series of fixed income investor meetings in Singapore and Hong Kong, starting Wednesday, the Chinese property developer said.
An offering of U.S. dollar denominated senior notes may follow, subject to market conditions, Yanlord said in a filing to SGX.
The notes are expected to be rated BB-minus by S&P and Ba3 by Moody’s, the filing said.
SPH REIT’s manager said Wednesday it has established a S$1 billion multicurrency debt issuance program which can issue notes in various amounts and tenors, including perpetual securities.
HSBC’s Singapore branch and OCBC were appointed arrangers and dealers for the program, SPH REIT said in a filing to SGX.
Any net proceeds are expected to be used for general working capital, capital expenditure and corporate requirements, including acquisitions and investments, the filing said.
Soilbuild Business Space REIT
A Singapore court granted an application for the appointment of a judicial manager (JM) over troubled NK Ingredients, Soilbuild Business Space REIT’s manager said in a filing to SGX Tuesday.
BlackRock became a substantial shareholder of Venture Corp., with its deemed interest rising to 5.04 percent, above the 5 percent threshold, from 4.97 percent previously, the asset manager said in a filing to SGX after the market close Tuesday.
That was after an increase of 189,242 shares held as collateral, the filing said.
Eagle Hospitality Trust
Claydon Hill Investments disposed of 10 million Eagle Hospitality Trust units at US$0.70 each in an off-market transaction, the substantial unitholder said in a filing to SGX Tuesday.
That brought Claydon Hill Investments’ direct interest in the REIT to 15.15 percent, down from 16.3 percent previously, the filing said.
Claydon Hill Investments is wholly owned by Frank Shih Chi Yuan, the filing said.
Del Monte Pacific
Del Monte Pacific said Tuesday it plans to shutter and divest some production facilities of its U.S. subsidiary, Del Monte Foods, in a move toward an asset-light strategy.
Synagie and Lazada
E-commerce service provider Synagie entered a deal to manage and operate brand stores for Lazada on the online retailer’s marketplaces in Southeast Asia, the Singapore-listed company said in a filing to SGX Tuesday.
Yoma Strategic Holdings
Yoma Strategic Holdings said Tuesday that International Finance Corporation had completed an investment to take a 30 percent stake in Yoma Micro Power.
Yoma Micro Power is now a 35 percent-owned associate of Yoma Strategic, with Norfund and IFC now holding 30 percent each and Alakesh Chetia, CEO of Yoma Micro Power, holding the remaining 5 percent, Yoma said in a filing to SGX.
The deal had initially been announced in April 2018.
Spackman Entertainment Group
Spackman Entertainment Group said Tuesday its acquisition of Simplex Films has been completed, and 165 million new shares have been issued as consideration.
“The group believes that the acquisition of Simplex shall enable the Group to expand its film production annually and enhance the performance of its film production business segment,” the South Korean drama producer said in a filing to SGX.
Simplex has become a direct, wholly owned subsidiary of the group, Spackman said.