Bond Factsheet
YNHBMK 8.850% Perpetual Corp (MYR) - Series 2
YNH Property Bhd
Indicative
Full Lot
Bid Price 99.378
Change in Bid Price 0.004
Bid Yield (%) 9.631 %
Change in Bid Yield 0.003
Ask Price 99.928
Change in Ask Price 0.004
Ask Yield (%) 8.914 %
Change in Ask Yield 0.006
Indicative price as of 02 Oct 2026, 4:25pm
Ask Yield to Worst
Bid Yield to Worst
Ask Yield to Maturity
Bid Yield to Maturity
Bond Issuer
YNH Property Bhd
Guarantor
-
Announcement Date
22 Jul 2020
Issue Date
30 Jul 2020
Maturity Date
Perpetual
Years to Maturity / Next Call
Perpetual / 0.324
Modified Duration
0.300 @ 02 Oct 2026
Issue / Reoffer Price
100.000
Issue / Reoffer Yield
6.850
Coupon Type
Fixed
Annual Coupon Rate
8.850
Coupon Frequency
Semi Annually
Seniority
Secured
Reference Rate
Please refer to details below.
ISIN
MYBPZ2000084
CUSIP
BK6515179
Bond Currency
MYR
Total Issue Size
87,000,000
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
No
Exchange Listed
No
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.
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.
"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.
Callable on 30 Jul 2025 and every 6 months thereafter at 100.
Privatisation Event Redemption
If at any time a Privatisation 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.
Privatisation Event: If the Issuer fails to maintain its status as a public listed company on Bursa Malaysia and is delisted, a Privatisation Event shall have occurred.
Redemption Price is the cash sum payable by the Issuer to the Perpetual Securities Holders pursuant to the relevant Enforcement Event and/or Redemption Event and shall be calculated in accordance with the formula described below:-
(1) In respect of (i) Optional Redemption; (ii) Leverage Event Redemption; (iii) Privatisation Event Redemption; (iv) Capital Reduction Event Redemption; (v) Change of Control Event Redemption and (vi) Accounting Event Redemption or Tax Event Redemption which occurs on or after the First Call Date, the relevant Redemption Price payable shall be calculated as follows:
(i) the nominal value of the outstanding Perpetual Securities; plus
(ii) the aggregate accrued but unpaid Coupon Payments calculated up to and inclusive of the date of redemption.
For the avoidance of doubt, the computation for the Redemption Price above would be applicable to event under (ii), (iii), (iv) and (v) regardless of whether it occurs prior or after the First Call Date.
Coupon Step
"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.
| Coupon (% p.a.) | End Date |
|---|---|
| 6.850 | 30 Jul 2025 |
| 8.850 | 30 Jul 2026 |
| 9.850 | 30 Jul 2027 |
| 10.850 | 30 Jul 2028 |
| 11.850 | 30 Jul 2029 |
| 12.850 | 30 Jul 2030 |
| 15.000 | 30 Jul 2168 |
Change Control Call
Change of Control Event: 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.
Redemption Price is the cash sum payable by the Issuer to the Perpetual Securities Holders pursuant to the relevant Enforcement Event and/or Redemption Event and shall be calculated in accordance with the formula described below:-
(1) In respect of (i) Optional Redemption; (ii) Leverage Event Redemption; (iii) Privatisation Event Redemption; (iv) Capital Reduction Event Redemption; (v) Change of Control Event Redemption and (vi) Accounting Event Redemption or Tax Event Redemption which occurs on or after the First Call Date, the relevant Redemption Price payable shall be calculated as follows:
(i) the nominal value of the outstanding Perpetual Securities; plus
(ii) the aggregate accrued but unpaid Coupon Payments calculated up to and inclusive of the date of redemption.
For the avoidance of doubt, the computation for the Redemption Price above would be applicable to event under (ii), (iii), (iv) and (v) regardless of whether it occurs prior or after the First Call Date.
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