Bond Factsheet
SUNSP 4.250% Perpetual Corp (SGD)
Suntec REIT
Indicative
Full Lot
Bid Price 100.042
Change in Bid Price
-
Bid Yield (%) -
Change in Bid Yield
-
Ask Price 100.181
Change in Ask Price 0.016
Ask Yield (%) -
Change in Ask Yield
-
Indicative price as of 15 Jun 2026, 12:00am
Bond Issuer
Suntec REIT
Guarantor
-
Announcement Date
07 Jun 2021
Issue Date
15 Jun 2021
Maturity Date
Perpetual
Years to Maturity / Next Call
Perpetual / 0.193
Modified Duration
-
Issue / Reoffer Price
100.000
Issue / Reoffer Yield
4.250
Coupon Type
Variable
Annual Coupon Rate
4.250
Coupon Frequency
Semi Annually
Seniority
Subordinated
Reference Rate
Reset Date: 15 Jun 2026 and every 5 years thereafter
Reset Rate: prevailing SGD 5Y SOR (or the Successor Rate or Alternative Reference Rate) + Initial Spread (3.290%)
ISIN
SGXF29810219
CUSIP
BP9609275
Bond Currency
SGD
Total Issue Size
150,000,000
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
Optional Distribution: If Optional Distribution is specified as being applicable in the applicable Pricing Supplement, the Issuer may, at its sole discretion, and at any time, elect to pay an optional amount equal to the amount of Distribution which is unpaid in whole or in part (an Optional Distribution) at any time by giving irrevocable notice of such election to the Perpetual Securityholders (in accordance with Condition 13 (Notices)) and the Trustee and the Issuing and Paying Agent, not more than 20 nor less than 10 Business Days (or such other notice period as may be specified in the applicable Pricing Supplement) prior to the relevant payment date specified in such notice (which notice is irrevocable and shall oblige the Issuer to pay the relevant Optional Distribution on the payment date specified in such notice). Any partial payment of outstanding Optional Distribution by the Issuer shall be shared by the Perpetual Securityholders or Couponholders of all outstanding Perpetual Securities and the Coupons related to them on a pro-rata basis. Further provisions relating to this Condition 4.6(f) (Optional Distribution) may be specified in the applicable Pricing Supplement.
Dividend Stopper: If Dividend Stopper is specified as being applicable in the applicable Pricing Supplement and on any Distribution Payment Date, payment of Distributions (including Arrears of Distribution and Additional Distribution Amount) scheduled to be made on such date is not made in full by reason of this Condition 4.6 (Distribution deferral), the Issuer shall not, and shall procure that none of its Subsidiaries shall, in respect of the Junior Obligations or the Parity Obligations:
(i) voluntarily 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 Junior Obligations or (except on a pro rata basis) any of the Parity Obligations; or
(ii) voluntarily redeem, purchase, cancel, reduce, buy-back or otherwise acquire for any consideration on any of the Junior Obligations or (except on a pro rata basis) any of the 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, officers, directors or consultants of the Group (as defined in the Trust Deed) or (2) as a result of the exchange or conversion of the Parity Obligations for the Junior Obligations unless and until (x) (if Cumulative Deferral is specified as being applicable in the applicable Pricing Supplement) if the Issuer has made payment in whole (and not in part only) of all outstanding Arrears of Distributions and any Additional Distribution Amounts; or (y) (if Non-Cumulative Deferral is specified as being applicable in the applicable Pricing Supplement) a redemption of all the outstanding Perpetual Securities in accordance with Condition 6 (Redemption and Purchase) 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 (z) when so permitted by an Extraordinary Resolution (as defined in the Trust Deed) of the Perpetual Securityholders.
Issuer Call
Optional Redemption Date(s): The First Reset Date and each Distribution Payment Date thereafter
First Reset Date: 15 June 2026
Additional Note
If Redemption upon a Regulatory Event is specified as being applicable in the applicable Pricing Supplement, the Perpetual Securities may be redeemed at the option of the Issuer in whole, but not in part, at any time (if this Perpetual Security is not a Floating Rate Perpetual Security or Dual Currency Distribution Perpetual Security) or on any Distribution Payment Date (if this Perpetual Security is a Floating Rate Perpetual Security or Dual Currency Distribution Perpetual Security), on giving not less than 30 nor more than 60 days’ notice (or such other maximum and minimum notice period as may be specified in the applicable Pricing Supplement) to the Trustee and the Issuing and Paying Agent and in accordance with Condition 13 (Notices), the Perpetual Securityholders (which notice shall be irrevocable) at their Early Redemption Amount, as specified in the applicable Pricing Supplement, together (if appropriate) with Distribution accrued to (but excluding) the date of redemption (including any Arrears of Distribution and any Additional Distribution Amount, if applicable) if, as a result of any change in, or amendment to, the Property Funds Appendix, or any change in the application or official interpretation of the Property Funds Appendix, the Perpetual Securities count or, in the Distribution Payment Period immediately following that Distribution Payment Date, will count towards the Aggregate Leverage under the Property Funds Appendix, provided that no such notice of redemption shall be given earlier than 90 days prior to the earliest date on which the Perpetual Securities will count towards the Aggregate Leverage.
Redemption in the case of Minimum Outstanding Amount
If Minimal Outstanding Amount Redemption Option is specified as being applicable in the applicable Pricing Supplement, the Issuer may, at any time (if this Perpetual Security is neither a Floating Rate Perpetual Security nor a Dual Currency Distribution Perpetual Security) or on any Distribution Payment Date (if this Perpetual Security is either a Floating Rate Perpetual Security or a Dual Currency Distribution Perpetual Security), on giving not less than 30 nor more than 60 days’ irrevocable notice (or such other maximum and minimum notice period as may be specified in the applicable Pricing Supplement) to the Trustee and the Issuing and Paying Agent and in accordance with Condition 13 (Notices), the Perpetual Securityholders (or such other notice period as may be specified in the applicable Pricing Supplement) redeem the Perpetual Securities, in whole, but not in part, at their Early Redemption Amount as specified in the applicable Pricing Supplement (together with distributions accrued to (but excluding) the date fixed for redemption) if, immediately before giving such notice, the aggregate principal amount of the Perpetual Securities outstanding is less than 20 per cent. of the aggregate principal amount originally issued. All Perpetual Securities shall be redeemed on the date specified in such notice in accordance with this Condition 6.8 (Redemption in the case of Minimum Outstanding Amount).
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