SPHRSP 4.100% Perpetual Corp (SGD)

Bond Factsheet

Matured/ Called

PARAGON REIT

Indicative

Full Lot

Bid Price

99.967

Change in Bid Price

remove 0.001

Bid Yield (%)

Change in Bid Yield

Ask Price

100.050

Change in Ask Price

Ask Yield (%)

Change in Ask Yield

Indicative price as of 30 Aug 2024, 12:00am

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Bond Information

PARAGON REIT is a Singaporebased REIT established principally to invest, directly or indirectly, in a portfolio of incomeproducing real estate which isused primarily for retail purposes in AsiaPacific, as well as real estaterelated assets.

Bond Issuer

PARAGON REIT

Guarantor

Announcement Date

23 Aug 2019

Issue Date

30 Aug 2019

Maturity Date

Perpetual

Years to Maturity / Next Call

Perpetual / 0.399

Modified Duration

Issue / Reoffer Price

100.000

Issue / Reoffer Yield

4.100

Coupon Type

Variable

Annual Coupon Rate

4.100

Coupon Frequency

Semi Annually

Seniority

Subordinated

Reference Rate

Reset Rate: 30 Aug 2024 and every 5 years thereafter
Reset Rate: Prevailing SGD 5Y SOR plus the Initial Spread (2.517%)

ISIN

SGXF59084263

CUSIP

ZR2997602

Bond Currency

SGD

Total Issue Size

300,000,000

Min. Investment Quantity (Nominal)

SGD 250,000

Incremental Quantity (Nominal)

SGD 250,000

Bond Type

High Yield 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

Exchange Listed

SGX

Bond Feature(s)

Deferral Interest Payment

Non-Cumulative Deferral

If Non-Cumulative Deferral is set out hereon, 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 hereon and on any Distribution Payment Date, payments of all distributions 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 SPH 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, (2) as a result of the exchange or conversion of Specified Parity Obligations of the Issuer for the Junior Obligations of the Issuer and/or (3) as otherwise specified in the applicable Pricing Supplement, 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 by an Extraordinary Resolution (as defined in the Trust Deed) of the Perpetual Securityholders and/or as otherwise specified in the applicable Pricing Supplement.

Issuer Call

If so provided hereon, the Issuer may, on giving irrevocable notice to the Perpetual Securityholders falling within the Issuer's Redemption Option Period shown on the face hereof, redeem all or, if so provided, some of the Perpetual Securities at their Redemption Amount or integral multiples thereof and on the date or dates so provided. Any such redemption of Perpetual Securities shall be at their Redemption Amount, together with distribution accrued (including any Arrears of Distribution and any Additional Distribution Amount) (if any) to (but excluding) the date fixed for redemption. All Perpetual Securities in respect of which any such notice is given shall be redeemed on the date specified in such notice in accordance with this Condition.

The Issuer may, on giving not less than 30 days’ nor more than 60 days’ prior notice to the Perpetual Securityholders, redeem in whole, at the Redemption Amount, but not in part, the Perpetual Securities on 30 August 2024 or any Distribution Payment Date thereafter.

Additional Note

Name changed from “SPH REIT” to “PARAGON REIT” with effect from 3 January 2023.

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