FPL green notes 5 years 4.49% pa

[Opps-gal]

When will know the result of allocation?

https://dollarsandsense.sg/investor...-green-retail-notes-frasers-property-limited/The result of the offer is expected to be announced on 15 September 2022, with the issue date of the green notes expected to be on the next day.


The notes should start trading on the Singapore Exchange on 19 September 2022 at 9am.

 

[Kojo0403]

MBH is currently yielding around 3.8-3.9% with net yield around 3.55-3.65% pa, after fees. Thus, the new green bond issue is paying around 0.85-0.95% pa higher than MBH. MBH is well diversified with about 1 yr higher duration.

MBH had more than 50% in sovereigns, banks (including dbs ocbc uob) and insurance companies which typically has much lower default rate. Also it allow investors to get out/ liquidate with a much lower cost and better liquidity vis sgx.

 

[Kojo0403]

Look at the fund factsheet which shows the wt avg YTM and wt. avg duration. The latest factsheet (Jul 2022) shows the Wt avg YTM as 3.75 and since yields hv moved higher in Aug and Sep so far. I put it around 3.8-3.9% pa, before fees and 3.55-3.65% pa after fees.

The way I have worked out the dividend yield for MBH is as follows:

Current price: 0.941
Investment amount: $1,000
No. of units: $1,000/0.941 = 1,062.699
Last dividend payout for half year: $0.0135 per unit
Expected annual dividend: 2 x 1,062.699 x $0.0135 = $28.693
Estimated annual dividend yield = 28.693/1000 = 2.869%

This is a huge difference compared to 3.8-3.9%.

Can you explain where I have gone wrong? Many thanks.

dividend yield might not be equal to yield to maturity of the ETF.
It really depends on the etf manager dividend payout policy and how they manage the coupon payment from the underlying bonds.
The portion of cash flows that is not paid out should be kept within the fund, hence investors are unlikely to be worst off.
But yield to maturity is typically is better guage on how much yield you are getting out of the ETFs.

 

[lzydata]

Last date and time for applications for the Green Notes under the Public Offer:
Wednesday, 14 September 2022 at 12.00pm

Last date and time for applications for the Green Notes under the Placement:
Wednesday, 14 September 2022 at 7.00pm

 

[0218crawford]

There are several outstanding wholesale senior bonds for the company and most are yielding around 4.5%. Don't think there is much room to stag this puppy on opening. Also in the horizon IR is going up, Just look at Temasek 1.8. now under water. But one never knows, retail bonds are prone to mispricing

good luck to those who subscribed!

 

[Moowoow]

Result out?

 

[lzydata]

Result out?

Tomorrow 15 Sep.

 

[vsvs24]

First time use UOB to apply IPO. They send SMS to inform. So much better than DBS. Applied 30k. Allocated 30k

UOB-You have been allocated 30000 Securities for FRASERS PROPERTY TREASURY PTE LTD.

 

[WHLN17]

First time use UOB to apply IPO. They send SMS to inform. So much better than DBS. Applied 30k. Allocated 30k

UOB-You have been allocated 30000 Securities for FRASERS PROPERTY TREASURY PTE LTD.

Congrats! Hopefully I can get full allotment too. No news from DBS yet.

 

[zer0ne]

First time use UOB to apply IPO. They send SMS to inform. So much better than DBS. Applied 30k. Allocated 30k

UOB-You have been allocated 30000 Securities for FRASERS PROPERTY TREASURY PTE LTD.

Full allocation? Wow. No demand looks like it. Maybe I’m wrong.

 

[WHLN17]

Full allocation? Wow. No demand looks like it. Maybe I’m wrong.

Hard to say just based on 'full allotment' since it will be balloted if oversubscribed.

 

[CaptainWu]

First time use UOB to apply IPO. They send SMS to inform. So much better than DBS. Applied 30k. Allocated 30k

UOB-You have been allocated 30000 Securities for FRASERS PROPERTY TREASURY PTE LTD.

DBS is sucks for this kind of notification, be it SSB, T-Bills nothing at all and you will only know when this appears in the statement.

 

[Moowoow]

First time use UOB to apply IPO. They send SMS to inform. So much better than DBS. Applied 30k. Allocated 30k

UOB-You have been allocated 30000 Securities for FRASERS PROPERTY TREASURY PTE LTD.

I also uob le, why no SMS? Then I logged in uob also fully alloted 40k

 

[vsvs24]

DBS is sucks for this kind of notification, be it SSB, T-Bills nothing at all and you will only know when this appears in the statement.

Used to see Dividend on payment date in my DBS bank account by 5pm. This month received only after 9pm.

Going to change my CDP bank account from DBS to UOB.

And all my IPO, Tbills, SSB going to apply using UOB in future.

 

[Cobra!]

I also uob le, why no SMS? Then I logged in uob also fully alloted 40k

if no sms where did you see the allocation?

 

[vsvs24]

if no sms where did you see the allocation?

UOB mobile app. Click on wealth. Then securities IPO. Then there is a tab for check application

 

[sohguanh]

UOB mobile app. Click on wealth. Then securities IPO. Then there is a tab for check application

Yes I also notice SSB redeem can be done via UOB mobile app. DBS,OCBC I yet to find in their mobile app. I am starting to explore more on UOB mobile app. Best is everything can do inside their mobile app so we no need toggle website,mobile app for different functions. E.g DBS apply SSB must use website, OCBC apply IPO must use website etc

 

[d5dude]

Looks like all fully allotted, this thing was undersubscribed?

 

[Cobra!]

Looks like all fully allotted, this thing was undersubscribed?

smells like it

 

[vsvs24]

I also uob le, why no SMS? Then I logged in uob also fully alloted 40k

SMS came first. 10 min after getting the SMS I login to mobile app still not updated.