CAPLSP 3.650% Perpetual Corp (SGD)

Bond Factsheet

Matured/ Called

CapitaLand Treasury Limited

Indicative

Full Lot

Bid Price

99.902

Change in Bid Price

Bid Yield (%)

Change in Bid Yield

Ask Price

100.032

Change in Ask Price

Ask Yield (%)

Change in Ask Yield

Indicative price as of 17 Oct 2024, 12:00am

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Bond Information

Capitaland Treasury Limited operates as real estate owner and developer. The Company sells and lease the shopping malls, offices premises, residential apartment, and storage spaces. Capitaland Treasury serves clients worldwide.

Bond Issuer

CapitaLand Treasury Limited

Guarantor

CapitaLand Ltd

Announcement Date

10 Oct 2019

Issue Date

17 Oct 2019

Maturity Date

Perpetual

Years to Maturity / Next Call

Perpetual / 0.537

Modified Duration

Issue / Reoffer Price

100.000

Issue / Reoffer Yield

3.650

Coupon Type

Variable

Annual Coupon Rate

3.650

Coupon Frequency

Semi Annually

Seniority

Subordinated

Reference Rate

Reset Date: 17 Oct 2024 and every 5 years thereafter
Reset Rate: Prevailing SGD 5-year SGD SOR plus the Initial Spread (2.200%) and (from 17 Oct 2029) the Step-up Margin (100bps)

ISIN

SGXF21741271

CUSIP

ZQ0618392

Bond Currency

SGD

Total Issue Size

500,000,000

Min. Investment Quantity (Nominal)

SGD 250,000

Incremental Quantity (Nominal)

SGD 250,000

Bond Type

Corporate

Bond Sector

Financials

Bond Sub Sector

Real Estate Management and Development

Issuer Credit Rating (S&P/ Fitch)

***/ N.R

Bond Credit Rating (S&P/ Fitch)

***/ N.R

Shariah Compliant

Exchange Listed

SGX

Bond Feature(s)

Deferral Interest Payment

Cumulative Deferral

If Cumulative Deferral is set out hereon, any Distribution deferred pursuant to this Condition 4(h) shall constitute "Arrears of Distribution". The Issuer may, at its sole discretion, elect to (in the circumstances set out in Condition 4(h)(i)) further defer any Arrears of Distribution by complying with the foregoing notice requirement applicable to any deferral of an accrued Distribution. The Issuer is not subject to any limit as to the number of times Distributions and Arrears of Distribution can or shall be deferred pursuant to this Condition 4(h) except that this Condition 4(h)(iv) shall be complied with until all outstanding Arrears of Distribution have been paid in full.

If Additional Distribution is set out hereon, each amount of Arrears of Distribution shall bear interest as if it constituted the principal of the Perpetual Notes at the Distribution Rate and the amount of such interest (the "Additional Distribution Amount") with respect to Arrears of Distribution shall be due and payable pursuant to this Condition 4 and shall be calculated by applying the applicable Distribution Rate to the amount of the Arrears of Distribution and otherwise mutatis mutandis as provided in the foregoing provisions of this Condition 4. The Additional Distribution Amount accrued up to any Distribution Payment Date shall be added, for the purpose of calculating the Additional Distribution Amount accruing thereafter, to the amount of Arrears of Distribution remaining unpaid on such Distribution Payment Date so that it will itself become Arrears of Distribution.

Dividend Stopper

If Dividend Stopper is set out hereon and on any Distribution Payment Date, payment of all Distribution payments scheduled to be made on such date is not made in full by reason of this Condition 4(h), the Issuer and the Guarantor shall not and shall procure that none of their respective Subsidiaries (other than any Subsidiary which is listed on any stock exchange) will:

(A) 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:

(1) if this Perpetual Note is a Senior Perpetual Note, any of its Junior Obligations; or

(2) if this Perpetual Note is a Subordinated Perpetual Note, any of its Junior Obligations or Parity Obligations;

(except (i) in connection with any employee benefit plan or similar arrangements with or for the benefit of employees, officers, directors or consultants or (ii) in relation to the Parity Obligations on a pro-rata basis); or

(B) redeem, reduce, cancel, buy-back or acquire for any consideration (1) if this Perpetual Note is a Senior Perpetual Note, any of its Junior Obligations; or

(2) if this Perpetual Note is a Subordinated Perpetual Note, any of its Junior Obligations or Parity Obligations;

(other than (i) in connection with any employee benefit plan or similar arrangements with or for the benefit of employees, officers, directors or consultants or (ii) as a result of the exchange or conversion of Parity Obligations for Junior Obligations),

Dividend Pusher

Yes, with 6 month look back period

Issuer Call

If Call Option is specified hereon, the Issuer may, on giving not less than 15 nor more than 30 days' irrevocable notice to the Noteholders (or such other notice period as may be specified hereon) and to the Trustee, the Issuing and Paying Agent, the CMU Lodging and Paying Agent or the CDP Issuing and Paying Agent, as the case may be, and the Registrar in writing, redeem all or, if so provided, some of the Perpetual Notes on any Optional Redemption Date. Any such redemption of Perpetual Notes shall be at their principal amount (together with Distributions (including any Arrears of Distribution and any Additional Distribution Amount, if applicable) accrued to but excluding the date fixed for redemption but unpaid).

Callable on 17 October 2024 & on any distribution payment date thereafter at par

Coupon Step

Step-Up Margin: 100 bps from 17 Oct 2029

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