Bond Factsheet
EREIT 6.632% Perpetual Corp (SGD)
ESR-REIT
Indicative
Full Lot
Bid Price 100.027
Change in Bid Price 0.002
Bid Yield (%) -
Change in Bid Yield
-
Ask Price 100.270
Change in Ask Price 0.006
Ask Yield (%) -
Change in Ask Yield
-
Indicative price as of 02 May 2025, 12:00am
Bond Issuer
ESR-REIT
Guarantor
-
Announcement Date
25 Oct 2017
Issue Date
03 Nov 2017
Maturity Date
Perpetual
Years to Maturity / Next Call
Perpetual / 0.089
Modified Duration
-
Issue / Reoffer Price
100.000
Issue / Reoffer Yield
4.600
Coupon Type
Variable
Annual Coupon Rate
6.632
Coupon Frequency
Semi Annually
Seniority
Junior Subordinated
Reference Rate
Reset Date = 03 Nov 2022 and every 5 years thereafter
Reset Rate = Prevailing 5-year Singapore Swap-Offer Rate plus 2.6%
ISIN
SG7IC6000006
CUSIP
AP7426772
Bond Currency
SGD
Total Issue Size
150,000,000
Outstanding Issue Size
75,250,000
Min. Investment Quantity (Nominal)
SGD 250,000
Incremental Quantity (Nominal)
SGD 250,000
Bond Type
High Yield Corporate
Bond Sector
Financials
Bond Sub Sector
Real Estate Investment Trusts
Issuer Credit Rating (S&P/ Fitch)
***/ N.R
Bond Credit Rating (S&P/ Fitch)
***/ N.R
Shariah Compliant
No
Exchange Listed
SGX
Deferral Interest Payment
Any distribution deferred pursuant to this Condition 3(IV) is non-cumulative and will not accrue interest. The Issuer is not under any obligation to pay that or any other distributions that have not been paid in whole or in part. The Issuer may, at its sole discretion (and is not obliged to), and at any time, elect to pay an amount up to the amount of distribution which is unpaid (an "Optional Distribution") in whole or in part by complying with the notice requirements in Condition 3(IV)(e). There is no limit on the number of times or the extent of the amount with respect to which the Issuer can elect not to pay distributions pursuant to this Condition 3(IV). Any partial payment of outstanding Optional Distribution by the Issuer shall be shared by the holders of all outstanding Perpetual Securities and the Coupons related to them on a pro-rata basis.
Dividend Stopper
On any Distribution Payment Date, payments of all distribution scheduled to be made on such date are not made in full by reason of this Condition 3(IV), the Issuer shall not and shall procure that none of the subsidiaries of CIT shall:
(i) declare or pay any dividends, distributions or make any other payment on, and will procure that no dividend, distribution or other payment is made on, any of the Issuer's Junior Obligations or in relation to Subordinated Perpetual Securities only, (except on a pro-rata basis) any of the Issuer's Parity Obligations; or
(ii) redeem, reduce, cancel, buy-back or acquire for any consideration and will procure that no redemption, reduction, cancellation, buy-back or acquisition for any consideration is made in respect of any of the Issuer's Junior Obligations or in relation to Subordinated Perpetual Securities only, (except on a pro-rata basis) any of the Issuer's Parity Obligations,
in each case, other than (1) in connection with any employee benefit plan or similar arrangements with or for the benefit of employees, officers, consultants or directors of the Group (as defined in the Trust Deed) or (2) as a result of the exchange or conversion of Parity Obligations of the Issuer for Junior Obligations of the Issuer unless and until (A) (if Cumulative Deferral is specified as being applicable in the applicable Pricing Supplement) the Issuer has satisfied in full all outstanding Arrears of Distribution, (B) (if Non-Cumulative Deferral is specified as being applicable in the applicable Pricing Supplement) a redemption of all the outstanding Perpetual Securities has occurred, the next scheduled distribution has been paid in full or an Optional Distribution equal to the amount of a distribution payable with respect to the most recent Distribution Payment Date that was unpaid in full or in part, has been paid in full or (C) the Issuer is permitted to do so by an Extraordinary Resolution (as defined in the Trust Deed) of the Perpetual Securityholders and/or as otherwise specified in the applicable Pricing Supplement.
Issuer Call
First Call Date: 03 Nov 2022.
Additional Note
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