OUE Hospitality Trust *Official* (SGX: SK7)

[Jupiter2017]

http://www.businesstimes.com.sg/com...ng-of-its-outstanding-debts-ahead-of-maturity
OUE H-Trust completes refinancing of its outstanding debts ahead of maturity
TUE, DEC 19, 2017 - 8:18 PM NAVIN SREGANTAN navinsre@sph.com.sg

OUE Hospitality Trust (OUE H-Trust) announced on Tuesday that it has drawn down on the term loan facilities and completed the refinancing of its total outstanding debts of US$859 million ahead of their maturity.
This comes after OUE H-Trust entered into a facility agreement with BNP Paribas on Dec 13 for the grant of two term loan facilities and two revolving loan facilities totalling S$980 million.
The stapled group, which comprises OUE Hospitality Real Estate Investment Trust (OUE Reit) and OUE Hospitality Business Trust, had entered into the loan agreements through OUE Reit's trustee, RBC Investor Services Trust.
"Prior to the refinancing, US$294 million was due in July 2018, US$270 million was due in July 2019 and US$295 million was due in January 2020," the group said in a filing with the Singapore Exchange after the market closed.
With the refinancing, the stapled group has no loans due until December 2020.
Chong Kee Hiong, CEO of OUE H-Trust's manager said: "We have refinanced OUE H-Trust's existing loans well ahead of their maturity to strengthen our debt profile in an environment of rising interest rates."
"Following the refinancing, more than 70 per cent of OUE H-Trust's interest is fixed via interest rate swaps (IRS) and the weighted average maturity tenure of OUE H-Trust's IRS has been extended from about 1.3 years to over 3.7 years as at Dec 19, 2017."
Moreover, this leaves OUE H-Trust's average cost of debt at about 2.4 per cent, compared to 2.8 per cent for the third quarter of its current financial year ending Dec 31.
OUE H-Trust shares closed S$0.005 or 0.6 per cent up at S$0.84 on Tuesday.

Price link: http://www.shareinvestor.com/fundamental/factsheet.html?counter=SK7.SI

 

[Jupiter2017]

http://www.businesstimes.com.sg/companies-markets/oue-h-trust-q4-dps-slips-to-127-s-cents
OUE H-Trust Q4 DPS slips to 1.27 S cents
Tue, Jan 30, 2018 - 6:57 PM Wong Kai Yi kaiyiw@sph.com.sg

OUE Hospitality Trust's distribution per stapled security (DPS) slipped to 1.27 Singapore cents from 1.36 Singapore cents in the previous year, the group said in a Singapore Exchange filing on Tuesday evening.
That came as Q4 income available for distribution slid 4.2 per cent to S$23.0 million from the previous year.
For the three months ended Dec 31, gross revenue crept up 1.8 per cent to S$33.8 million from the year-ago period. Net property income slipped 1.1 per cent to S$29.2 million from the previous year.
Its properties include Mandarin Gallery and Crowne Plaza Changi Airport. The hospitality segment posted higher revenue, which was partially offset by the lower revenue from retail segment, the group said.
The group also highlighted in its earnings report that distributable income of S$92.9 million in 2017 was the highest recorded annual distributable income since listing.
Distribution payment date has been set for Feb 28, with the books closure date set for Feb 7.
"Challenges in Singapore's retail scene remain, with tenants more cautious and taking a longer time to renew or commit to leases. Whilst we continue to explore leasing opportunities to optimise the occupancy of Mandarin Gallery, we remain committed to curating the right tenant mix to retain the mall's positioning as a destination mall," OUE said in its earnings statement.
OUE H-Trust's counter closed 0.5 Singapore cent or 0.6 per cent up at 88.5 Singapore cents on Tuesday.

price link: http://www.shareinvestor.com/fundamental/factsheet.html?counter=SK7.SI

 

[addict951]

Oueht tio jiak by brother ouect
Both reits will combine into 1
Google for news

 

[shin89]

Oueht tio jiak by brother ouect
Both reits will combine into 1
Google for news

Just saw on Bloomberg, will combine into new ticker?

 

[appl888]

Oueht tio jiak by brother ouect
Both reits will combine into 1
Google for news

Why merge?
I tot they were listed separately
Lolx

 

[KelThazard]

Oueht tio jiak by brother ouect
Both reits will combine into 1
Google for news

OUE HT worth more than OUE CT by share price but it's the lower one jiak the more expensive one..

 

[limster]

Expect all the major announcements now that FY and tax reporting season is over.

Reits will be gearing up for rights issue!

With a bigger market cap, the rights issue will appear to be not so dilutive so maybe they hope the share price will not be hammered by so much once the rights issue is announced

I'm vested in both.

 

[Toni90]

Now you will have one only. Not sure this one is good or bad news. Should be ok for both REIT.

 

[appl888]

Now you will have one only. Not sure this one is good or bad news. Should be ok for both REIT.

Merger need court approval
Will take quite some time

 

[madtari]

Not true... OUE CT is larger by market capitalisation.

Under the proposed scheme, OUE C-Reit will acquire OUE H-Trust by paying OUE H-Trust holders, for every OUE H-Trust stapled security held, $0.04075 in cash plus 1.3583 new OUE C-Reit units. OUE C-Reit last traded at $0.52 for a market capitalisation of $1.49 billion on Friday (April 5), while OUE H-Trust closed at $0.735 for a market valuation of $1.34 billion.

OUE HT worth more than OUE CT by share price but it's the lower one jiak the more expensive one..

 

[appl888]

for someone not vested in both, looks simpler to just buy OUE CT

 

[limster]

Not true... OUE CT is larger by market capitalisation.

Under the proposed scheme, OUE C-Reit will acquire OUE H-Trust by paying OUE H-Trust holders, for every OUE H-Trust stapled security held, $0.04075 in cash plus 1.3583 new OUE C-Reit units. OUE C-Reit last traded at $0.52 for a market capitalisation of $1.49 billion on Friday (April 5), while OUE H-Trust closed at $0.735 for a market valuation of $1.34 billion.

1.3583? why make investors end up with odd lots? why not 1.35 or 1.36 and adjust the cash component?

 

[appl888]

1.3583? why make investors end up with odd lots? why not 1.35 or 1.36 and adjust the cash component?

So they will buy more to round the shares
I guess

 

[bright_84]

And while all this is going on in guessing no distribution.

 

[appl888]

And while all this is going on in guessing no distribution.

Distribution shld continue
Or like ESR viva
They pay distribution after merger completed

 

[Asphodeli]

hmmm was contemplating whether to sell or not, but since still got 4 months, can wait and collect dividend...

 

[Squaredot]

1.3583? why make investors end up with odd lots? why not 1.35 or 1.36 and adjust the cash component?

ya lor. The fraction is super odd!
Many will end up having odd number of shares!

 

[shin89]

Not true... OUE CT is larger by market capitalisation.

Under the proposed scheme, OUE C-Reit will acquire OUE H-Trust by paying OUE H-Trust holders, for every OUE H-Trust stapled security held, $0.04075 in cash plus 1.3583 new OUE C-Reit units. OUE C-Reit last traded at $0.52 for a market capitalisation of $1.49 billion on Friday (April 5), while OUE H-Trust closed at $0.735 for a market valuation of $1.34 billion.

For shares under SCB, do we need to do anything?

 

[madtari]

For now no need, unless you want to exercise your voting rights.

For shares under SCB, do we need to do anything?

 

[bright_84]

I imagine the nominee manager will solicit responses?