Tag Archives: Suntec REIT

Suntec REIT’s Q2 DPU down 6.8%

Posted on 20 Jul 2012 | Comments Off on Suntec REIT’s Q2 DPU down 6.8%

Suntec Real Estate Investment Trust has announced that its second quarter distribution per unit (DPU) fell 6.8 per cent year-on-year.

The Reit’s DPU slipped to 2.361 Singapore cents per unit for the April-June period from 2.532 cents in the same period last year.

Suntec said the decline is due mainly to the lower retail revenue from Suntec City Mall and the loss in revenue because of the trust’s divestment of Chijmes in January this year.

Gross revenue for the quarter has risen by 15.8 per cent to nearly S$71 million.

However, distributable income has fallen by 5.7 per cent to S$53 million.

“Despite the challenges in the office market, the (trust) manager is cautiously optimistic on the performance of its office portfolio,” the trust said in the statement.

Suntec City Office Towers has achieved a 100 per cent committed occupancy while the trust’s office portfolio committed occupancy has strengthened to 99.9 per cent.

Source : Channel NewsAsia – 19 Jul 2012

 

 

 

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Suntec REIT issues $25m fixed rate notes under $500m MTN programme

Posted on 17 Sep 2009 | Comments Off on Suntec REIT issues $25m fixed rate notes under $500m MTN programme

Suntec REIT says Sunshine Assets Limited, the special purpose vehicle set up in 2006 to issue notes under the $500 million Medium Term Notes Programme, today issued a new series of three-year fixed rate notes bearing a fixed interest rate of 3.55% per annum, due September 2012.

The aggregate issue size of the notes is $25 million, which was oversubscribed. The proceeds from the notes will be on-lent by the Issuer to Suntec REIT, which will be used to fund Suntec REIT’s investment in the joint venture company established to acquire the Suntec Singapore International Convention & Exhibition Centre.

With this issuance of the notes, Suntec REIT’s gearing ratio stands at 34.2%.

The notes carry a Baa2 investment grade rating from Moody’s Investor Service.

Suntec REIT’s family rating from Moody’s Investor Service is Baa1.

Citicorp Investment Bank (Singapore) Limited was appointed as the lead manager of this issue of notes.

Source : The Edge – 17 Sep 2009

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