SG stocks Thursday: Lendlease REIT, ST Engineering, Ascott, SembMarine, SingPost

In March 2022, CapitaLand Investment's lodging unit The Ascott entered a deal to acquire the 93-unit serviced residence Citadines Canal Amsterdam via private equity fund the Ascott Serviced Residence Global Fund (ASRGF). Credit: AscottIn March 2022, CapitaLand Investment's lodging unit The Ascott entered a deal to acquire the 93-unit serviced residence Citadines Canal Amsterdam via private equity fund the Ascott Serviced Residence Global Fund (ASRGF). Credit: Ascott

Singapore companies in focus on Thursday, 24 March 2022:

  • Lendlease Global Commercial REIT private placement meets strong demand
  • Ascott Serviced Residence Global Fund acquires two properties for around S$190M
  • ST Engineering credit rating downgraded by S&P

Others: Sembcorp Marine (SembMarine), Temasek Holdings, Singapore Post (SingPost) and Hotel Properties Ltd.

ST Engineering

S&P Global Ratings downgraded ST Engineering‘s credit rating to AA-plus from AAA after the aerospace and defense contractor completed its S$3.6 billion debt-funded acquisition of TransCore.

Read more: ST Engineering credit rating downgraded by S&P

Lendlease Global Commericial REIT

Lendlease Global Commercial REIT (LREIT)‘s private placement was 3.3 times subscribed, with the transaction upsized to S$400 million from S$325 million initially, the REIT said in a filing to SGX Wednesday. 

Read more: Lendlease Global Commercial REIT private placement meets strong demand

CapitaLand Investment and The Ascott

CapitaLand Investment‘s wholly owned lodging unit, The Ascott, is investing in two properties — in Ningbo, China, and in Amsterdam, the Netherlands — for around S$190 million via the Ascott Serviced Residence Global Fund (ASRGF), Ascott said in a filing to SGX Wednesday. 

Read more: Ascott Serviced Residence Global Fund acquires two properties for around S$190M

Sembcorp Marine

Sembcorp Marine (SembMarine) has landed a contract to build a next-generation wind turbine installation vessel (WTIV) based on the company’s in-house design in collaboration with the customer, according to a filing to SGX Wednesday.

Read more: SembMarine wins wind-turbine installation vessel contract

Hotel Properties Ltd. 

Hotel Properties Ltd. is pricing a five-year benchmark Singapore dollar bond in the 4.30 percent area, according to a client note seen by Shenton Wire. 

Read more: Hotel Properties prices 5-year SGD bond

Temasek Holdings

SeaTown Holdings, an indirect subsidiary of Singapore’s state-owned investment company Temasek Holdings, is raising funds for its private capital fund from private investors for the first time.

Read more: Temasek’s SeaTown to raise funds from private investors

Singapore Post (SingPost)

Singapore Post (SingPost) has priced S$100 million of Singapore-dollar senior unsecured fixed-rate notes due 2027 at 3.23 percent, the postal and logistics operator said in a filing to SGX Wednesday. 

Read more: SingPost sets pricing of S$100M notes

Briefs

Singapore company briefs: Keppel Corp. and SATS, Katrina Group, Memiontec Holdings and Zhongmin Baihui Retail Group. Read more

Singapore companies announcing executive changes: AEM Holdings and EcoWise Holdings. Read more

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