Indian firms Unitech, DLF revisiting prior shelved offerings The success of Singapore's Cache Logistics Trust offering this month has prompted talk that other similar, previously shelved real estate investment trust (Reit) offerings are now being dusted off. India's top real estate firms, DLF Ltd and Unitech Ltd may revive their Singapore IPO plans, banking sources said, while the Embassy Group is...
REITS
Cache Logistics Trust (CLT), the first pure logistics real estate investment trust (Reit) to be launched in 2.5 years, had a bright debut in the Singapore Exchange (SGX) on Monday. The counter ended its first trading day at 95.5 cents up 8.5 per cent from its offer price of 88 cents. The stock also hit as high as 99.5 cents during intra-day trading before some profit taking activity pared off part of its...
Mainboard-listed CapitaMalls Asia said it has established a S$2 billion Euro-Medium Term Note Programme which will be unconditionally guaranteed by the company. Net proceeds from the issuance will be used to refinance existing borrowings, to fund investments and for general working capital. CMA said under the programme, it may issue notes in series or tranches in Singapore dollars, US dollars, Euro or...
2 ways to ride on India market: replicate Reit or pump in properties EVEN as Fortis Healthcare and Parkway Holdings are pondering over the possible synergies that the healthcare partners can leverage on from their new relationship, one analyst has suggested that they look into real estate too. Simranjit Singh, director of healthcare practice at Frost & Sullivan Asia Pacific, said that with the India...
WE refer to the article 'Qatar SWF snaps up top Singapore hotel' (BT, April 7). While the article states that Qatari Diar has acquired a stake in the Fairmont Raffles hotel chain, it implied that Fairmont Raffles will also take ownership of one of the chain's Singapore hotels - namely Swissotel The Stamford, Fairmont Singapore and Raffles Hotel. Swissotel The Stamford and Fairmont Singapore are hotels...
ANOTHER real estate investment trust (Reit) is headed for the local bourse, this time focusing on logistics properties. Cache Logistics Trust plans to raise $417.2 million through an initial public offering (IPO) of 474.1 million units. Of these, 41 million units will be offered to the public. It is the first Reit to list on the SGX mainboard after the recent global financial crisis - and it is set to...
Mainboard-listed CapitaMall Trust (CMT) said it has established a Euro-Medium Term Note Programme worth US$2 billion. Net proceeds from the issuance will be used to refinance existing borrowings, to fund investments and for general working capital. CMT said the Note Programme is in line with its strategy of increasing financial flexibility by diversifying sources of funding and extending debt...
Cache Logistics Trust prospectus says 474.2m units will be offered at 84-88 cents each CACHE Logistics Trust has lodged its listing prospectus with the Monetary Authority of Singapore, revealing that the new Reit hopes to raise about $400 million through its IPO. According to the prospectus, Cache is offering 474.2 million units at 84 to 88 cents each. A distribution yield in the range of 8.82-9.08 per...
PROSPECTS for real estate investment trusts (Reits) in Singapore remain challenging as there will be a greater supply of office, industrial and retail space coming onstream, said Moody's Investors Service yesterday. The rating agency kept its outlook for the sector over the next 12 months negative. This places it at the bearish end of the scale compared with two other research houses - DMG & Partners...
It provides flexibility for acquisitions and asset enhancement initiatives: Goldman CAPITACOMMERCIAL Trust's (CCT) second major fund-raising exercise in less than a year could pave the way for the office landlord to improve its portfolio, analysts said. The trust on Wednesday said that it will issue $225 million worth of convertible bonds and use 75-90 per cent of the proceeds to enhance its assets and...