YNHBMK 9.850% Perpetual Corp (MYR) (Deferred Coupon x2)

Bond Factsheet

YNHBMK 9.850% Perpetual Corp (MYR)

YNH Property Bhd

Indicative

Full Lot

Bid Price

99.683

Change in Bid Price

0.002

Bid Yield (%)

10.221 %

Change in Bid Yield

remove 0.002

Ask Price

100.233

Change in Ask Price

0.002

Ask Yield (%)

8.993 %

Change in Ask Yield

remove 0.014

Indicative price as of 02 Oct 2026, 4:25pm

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Bond Information

YNH Property Berhad is an investment holding company which operates in property development, investment, and hotel business as well as general contracting. The Company also cultivates palm oil and sells palm oil products.

Bond Issuer

YNH Property Bhd

Guarantor

Announcement Date

24 Jul 2019

Issue Date

07 Aug 2019

Maturity Date

Perpetual

Years to Maturity / Next Call

Perpetual / 0.342

Modified Duration

0.321 @ 02 Oct 2026

Issue / Reoffer Price

100.000

Issue / Reoffer Yield

6.850

Coupon Type

Fixed

Annual Coupon Rate

9.850

Coupon Frequency

Semi Annually

Seniority

Secured

Reference Rate

ISIN

MYBPZ1900094

CUSIP

AZ9238199

Bond Currency

MYR

Total Issue Size

263,000,000

Min. Investment Quantity (Nominal)

MYR 1,000

Incremental Quantity (Nominal)

MYR 1,000

Bond Type

High Yield Corporate

Bond Sector

Financials

Bond Sub Sector

Real Estate Management and Development

Issuer Credit Rating (S&P/ Fitch)

***/ N.R

Bond Credit Rating (S&P/ Fitch)

***/ N.R

Shariah Compliant

Exchange Listed

Bond Feature(s)

Deferral Interest Payment

The Issuer may give, not more than fifteen (15) nor less than five (5) business days before the relevant Coupon Payment Date, a notice in writing ("Deferral Notice") to the Facility Agent and the Trustee (for and on behalf of the Perpetual Securities Holders) for part or all of the Coupon Payment to be deferred, provided that within the period of six (6) months prior to the relevant Coupon Payment Date:

(a) no dividend, distribution or other payment has been paid or declared by the Issuer in respect of any of the Issuer's Junior Obligations; and

(b) none of the Issuer's Junior Obligations has been redeemed, reduced, cancelled, bought-back or acquired by the Issuer.

For this purpose, each Deferral Notice shall be accompanied by a certificate signed by two (2) directors, or a director and the company secretary of the Issuer confirming that both conditions (a) and (b) above have been complied. Any such certificate shall be conclusive evidence that both conditions (a) and (b) above have been complied and the Facility Agent and the Trustee shall be entitled to rely without any obligation to verify the same and without liability to any Perpetual Securities Holder or any other person on any Deferral Notice or any certificate as aforementioned. Each Deferral Notice shall be conclusive and binding on the Perpetual Securities Holders.

The deferred Coupon Payment is payable to the Perpetual Securities Holders at a Coupon Payment Date immediately following the deferral of the Coupon Payment. However, the Trustee (for and on behalf of the Perpetual Securities Holders) gives the Issuer the right to further defer the payment of part or all of the Coupon Payment should it request for such a deferment. Such deferred Coupon Payment shall accrue additional coupon and compounding at the prevailing Coupon Rate.

If on the relevant Coupon Payment Date, part of the Coupon Payment is deferred, each Perpetual Securities Holder shall receive the Coupon Payment proportionately based on the nominal value of the Perpetual Securities held. Each Perpetual Securities Holder shall be entitled to receive its proportionate share of the deferred Coupon Payment at the next Coupon Payment Date, subject to any deferment at the option of the Issuer.

Dividend and Capital Stopper

So long as any Coupon Payment (including deferred Coupon Payments) is outstanding, the Issuer shall not:

(1) 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 its Junior Obligations; or

(2) redeem, reduce, cancel, buy-back or acquire and will procure that no redemption, reduction, cancellation, buy-back or acquisition is made in respect of, any of its Junior Obligations,

until it has paid the outstanding Coupon Payments (including deferred Coupon Payments) in full.

Dividend and Capital Pusher

Payment by the Issuer of any outstanding Coupon Payment (including deferred Coupon Payments) will be mandatory (regardless of the Optional Deferral of Coupons) within one (1) month from any date:

(1) if the Issuer has on such date declared or paid any dividends, payments or other distributions on any of its Junior Obligations; or (2) if the Issuer has on such date redeemed, reduced, cancelled, bought-back or acquired any of its Junior Obligations.

Issuer Call

The Issuer may, at its option, redeem at par, in its entirety but not partially, the relevant Perpetual Securities of a tranche at the relevant Redemption Price on any Call Date of the relevant tranche.

The Issuer shall give not less than thirty (30) days' and not more than sixty (60) days' prior written notice (which notice shall be irrevocable) to the Facility Agent and the Trustee (for and on behalf of the Perpetual Securities Holders) for the Optional Redemption.

"Call Date" means the First Call Date and each Coupon Payment Date thereafter.

"First Call Date" means a date to be determined prior to each issuance of the Perpetual Securities where the Optional Redemption may first be exercised by the Issuer.

First Call Date: 07 Aug 2024

In the event of Issuer opt for not to exercise its option to redeem, the coupon will be:
Coupon Stepped-Up Date and Stepped-Up Coupon Rate :
Year 6 (from Issue Date) — 8.85% per annum
Year 7 (from Issue Date) — 9.85% per annum
Year 8 (from Issue Date) — 10.85% per annum
Year 9 (from Issue Date) — 11.85% per annum
Year 10 (from Issue Date)— 12.85% per annum
Year 11 (from Issue Date) — 13.85% per annum
Year 12 (from Issue Date) — 14.85% per annum
Year 13 (from Issue Date) — 15.00% per annum

Coupon Step

The rate(s) commencing from the relevant Coupon Stepped-Up Date(s), to be determined prior to each issuance of the Perpetual Securities. "Coupon Stepped-Up Date" means the date(s) where such applicable Stepped-Up Coupon Rate(s) applies, as determined prior to each issuance of the Perpetual Securities.

Stepped-Up Events

Upon the occurrence of the following events and if they are not remedied within the remedy period, the prevailing Coupon Rate shall be stepped up to the Maximum Rate :

(a)Leverage Event; (b) Privatisation Event; (c) Capital Reduction Event; (d) Change of Control Event

Maximum Rate: 15.0% p.a.

Coupon Rate: 6.85% per annum up to the First Call Date (exclusive)

Coupon Stepped-Up Date and Stepped-Up Coupon Rate :
Year 6 (from Issue Date) — 8.85% per annum
Year 7 (from Issue Date) — 9.85% per annum
Year 8 (from Issue Date) — 10.85% per annum
Year 9 (from Issue Date) — 11.85% per annum
Year 10 (from Issue Date)— 12.85% per annum
Year 11 (from Issue Date) — 13.85% per annum
Year 12 (from Issue Date) — 14.85% per annum
Year 13 (from Issue Date) — 15.00% per annum

Make Whole Call

In the case Accounting Event Redemption and Tax Event Redemption which occurs prior to the First Call Date, the relevant Redemption Price payable shall be calculated as follows:

(i) the greater of (a) 101% of the nominal value of the outstanding Perpetual Securities or (b) the Make-Whole Amount (as defined herein); plus

(ii) the aggregate accrued but unpaid Coupon Payments calculated up to and inclusive of the date of redemption.

"Make-Whole Amount" means the amount, equal to the sum of (a) the present value of the nominal value of the outstanding Perpetual Securities to be redeemed discounted from the First Call Date to the redemption date, and (b) the present value of all Coupon Payment distributable from the redemption date up to and including, the First Call Date, discounted to the redemption date on a semi-annual basis (assuming a 365 day year) at the relevant discount rate being the relevant MGS Rate (as defined herein) plus a margin ("Make Whole Margin") to be agreed between the Issuer and Lead Manager prior to each issuance of the Perpetual Securities.

Make Whole Margin: 75% of the Initial Credit Spread (Yield to First Call minus 5 years MGS).

"MGS Rate" means the rate in per cent per annum equal to the relevant Malaysian Government Securities ("MGS") rate for a tenure corresponding to the period between the relevant redemption date of the Perpetual Securities up to the First Call Date, or in the absence of such MGS Rate, the interpolated rate based on the arithmetic mean of the two (2) available closest MGS Rates corresponding to the period between the relevant redemption date of the Perpetual Securities up to the First Call Date.

Make-Whole Margin: 2.570%

Change Control Call

If at any time a Change of Control Event has occurred and is continuing, then the Issuer may, at its option, redeem all and not part of the relevant Perpetual Securities at the relevant Redemption Price.

So long as the Issuer has not redeemed the relevant Perpetual Securities pursuant to the Change of Control Event Redemption, the Coupon Rate in respect of the relevant Perpetual Securities shall be increased to the Maximum Rate with effect from (and including) the date falling 30 days from which the Change of Control Event occurred.

If the Change of Control Event is remedied by the Issuer to the satisfaction of the Trustee and the Issuer has delivered to the Facility Agent and the Trustee a certificate signed by a director or the chief financial officer of the Issuer certifying that the Change of Control Event has been remedied, then the Maximum Rate shall cease to apply and the Coupon Rate in respect of the relevant Perpetual Securities shall revert to the applicable Coupon Rate as if the Change of Control Event has not occurred, with effect from the Coupon Payment Period immediately after the date on which the Change of Control Event is remedied to the satisfaction of the Trustee.

If a change in the shareholding of the Issuer results in Dato' Dr. Yu Kuan Chon ceasing to hold (directly or indirectly) at least twenty five per cent (25%) of the issued share capital or voting rights in the Issuer, a Change in Control Event shall have occurred.

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Coupon Dates	Coupon Receive	Principal Amount	Cash Flow

No Data