ARASP 4.150% 23Apr2024 Corp (SGD)

Bond Factsheet

Matured/ Called

ESR Asset Management Limited

Indicative

Full Lot

Bid Price

99.983

Change in Bid Price

Bid Yield (%)

Change in Bid Yield

Ask Price

100.063

Change in Ask Price

Ask Yield (%)

Change in Ask Yield

Indicative price as of 23 Apr 2024, 12:00am

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Bond Information

ARA Asset Management Limited is a real estate fund management company that focuses on the management of publiclisted real estate investment trusts, REITs. The Company manages REITs, private real estate funds, specialist equity funds and offers corporate finance advisory services.

Bond Issuer

ESR Asset Management Limited

Guarantor

Announcement Date

15 Apr 2019

Issue Date

23 Apr 2019

Maturity Date

23 Apr 2024

Years to Maturity / Next Call

- / -

Modified Duration

Issue / Reoffer Price

100.000

Issue / Reoffer Yield

4.150

Coupon Type

Fixed

Annual Coupon Rate

4.150

Coupon Frequency

Semi Annually

Seniority

Senior Unsecured

Reference Rate

ISIN

SGXF61065755

CUSIP

ZS1856104

Bond Currency

SGD

Total Issue Size

100,000,000

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 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)

Change Control Put

If so provided hereon, if for any reason, a Change of Control (as defined below) occurs, the Issuer shall, within seven days of such occurrence, give notice to the Noteholders of the occurrence of such event (the "Change of Control Notice") (provided that any failure by the Issuer to give such notice shall not prejudice any Noteholder of such option) and shall, at the option of the holder of any Note, redeem such Note at its Redemption Amount, together with interest accrued to the date fixed for redemption, on the date falling 45 days from the date of the Change of Control Notice (or if such date is not a business day, on the next day which is a business day).

(i) "Change of Control Event" means:

(1) Mr Lim Hwee Chiang John, The Straits Trading Company Limited, Cheung Kong Property Limited, Warburg Pincus LLP and/or AVIC Trust, cease to own (whether singly or otherwise) 30 per cent. in aggregate, direct or indirect shareholding interest in the Issuer;

(2) any Person or Persons (acting together with its related corporations) (provided that such Person or Persons (and their related corporations) do not include any of the Permitted Holders) acquires or acquire Control of the Issuer, if such Person or Persons does not or do not have, and would not be deemed to have Control over the Issuer on the Issue Date; or

(3) the Issuer consolidates with or merges into or sells or transfers all or substantially all of the Issuer's assets to any other Person or Persons (acting together with its related corporations) (provided that such Person or Persons (and their related corporations) do not include any of the Permitted Holders), unless the consolidation, merger, sale or transfer will not result in such other Person or Persons acquiring Control over the Issuer or the successor entity;

(ii) "Control" means:

(1) the ownership or control of more than 50 per cent. of the voting rights of the issued share capital of the Issuer; or

(2) the right to appoint and/or remove all or the majority of the members of the Issuer's board of directors, whether obtained directly or indirectly, and whether obtained by ownership of share capital, the possession of voting rights, contract or otherwise;

(iii) "Immediate Family" means in relation to a Person, means the Person's spouse or child, adopted child or step-child below the age of 21 years;

(iv) "Permitted Holders" means any Person or group of Persons referred to in paragraph (i)(1) above and the Immediate Family of any such Person or group of Persons; and

(v) "Person" means any individual, company, corporation, firm, partnership, joint venture, association, organisation, state or agency of a state or other entity, whether or not having separate legal personality.

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