Bond Factsheet
AAREIT 5.375% Perpetual Corp (SGD)
AIMS APAC REIT
Indicative
Full Lot
Bid Price 100.000
Change in Bid Price 0.027
Bid Yield (%) -
Change in Bid Yield
-
Ask Price 100.070
Change in Ask Price 0.070
Ask Yield (%) -
Change in Ask Yield
-
Indicative price as of 01 Sep 2026, 12:00am
Bond Issuer
AIMS APAC REIT
Guarantor
-
Announcement Date
23 Aug 2021
Issue Date
01 Sep 2021
Maturity Date
Perpetual
Years to Maturity / Next Call
Perpetual / 0.402
Modified Duration
-
Issue / Reoffer Price
100.000
Issue / Reoffer Yield
5.375
Coupon Type
Variable
Annual Coupon Rate
5.375
Coupon Frequency
Semi Annually
Seniority
Subordinated
Reference Rate
Reset Date: 1 Sep 2026 and every 5 years thereafter
Reset Rate: Prevailing SGD 5Y SORA OIS plus the Initial Spread (4.654%)
ISIN
SGXF10875296
CUSIP
BR1269579
Bond Currency
SGD
Total Issue Size
250,000,000
Min. Investment Quantity (Nominal)
SGD 250,000
Incremental Quantity (Nominal)
SGD 250,000
Bond Type
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
If Non-Cumulative Deferral is set out on the face of the relevant Perpetual Security, any distribution deferred pursuant to this Condition 4(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 at any time, elect to pay an amount up to the amount of distribution which is unpaid (“Optional Distribution”) (in whole or in part) by complying with the notice requirements in Condition 4(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 4(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
If Dividend Stopper is set out on the face of the relevant Perpetual Security and 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 4(IV), the Issuer shall not and shall procure that none of the subsidiaries of AA REIT 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 (except on a pro rata basis) any of the Issuer’s Specified 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 (except on a pro rata basis) any of the Issuer’s Specified Parity Obligations,
in each case, other than (1) in connection with any employee benefit plan or similar arrangements with or for the benefit of the employees, directors or consultants of the Group or (2) as a result of the exchange or conversion of Specified Parity Obligations of the Issuer for the 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 (or to procure or permit the subsidiaries of AA REIT 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.
Dividend Pusher: Not applicable
Issuer Call
Callable on [1] September 2026 & on every distribution payment date thereafter at par.
Redemption upon Cessation or Suspension of Trading of Units
If so provided hereon, in the event that (i) the units of AA REIT cease to be listed and/or traded on the SGX-ST or (ii) trading in the units of AA REIT on the SGX-ST is suspended for a continuous period exceeding 10 consecutive market days (each, a “Cessation or Suspension of Trading Event”), the Perpetual Securities may be redeemed at the option of the Issuer in whole, but not in part, on any Distribution Payment Date or, if earlier, the date falling 45 days after the Effective Date, at their Redemption Amount (together with distribution (including Arrears of Distribution and any Additional Distribution Amount) accrued to (but excluding) the date fixed for redemption). The Issuer shall forthwith (and in any event not later than seven days after the Effective Date) notify the Trustee, the Principal Paying Agent and the Perpetual Securityholders of the occurrence of the event specified in this Condition 5(g).
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