Ascendas Reit

GLP has made big bets in USA and Brazil. It is already a huge player in Japan and China. Can't imagine them wanting to swallow another continent when 2 other continents are still WIP.

5% perps with no capital upside anyone?

My preference is simple - I entrust my $ with Towkay's FCL getting 5.67% historical dividend yield with asset light potential... bearing in mind that FCL yet to REIT their industrial real estate portfolio down under and perhaps our haigong mate may be interested to pay even lower yield for a bigger portfolio of quality real estates...

GG
Odd Lots Vested

Kindly be informed the following new sgd perpetual issue : -
 
Ascendas Real Estate Investment Trust (“A-REIT”)
 
Initial Yield guidance at cost
5.00% AREA
Expected Issue Size
SGD Benchmark
Denomination
SGD 250k x 250k
Timing
Books Open
Comments
To follow
Risk Rating
4
LV
60%
 
ISSUER                                  :                              HSBC Institutional Trust Services (Singapore) Limited,
in its capacity as trustee of Ascendas Real Estate Investment Trust (“A-REIT”)
ISSUE                                   :                                SGD Fixed Rate Subordinated Perpetual Securities
ISSUER RATINGS                          :  A3/Stable by Moody’s
EXPECTED ISSUE RATINGS                  :        Baa2 by Moody’s
CURRENCY                                :         SGD
ISSUE SIZE                              :                            Benchmark
TENOR                                   :                              Perpetual NC5
INITIAL PRICE GUIDANCE                  :          5.00%area
DISTRIBUTION PAYMENTS                   :       Non-cumulative and optional distribution. Unpaid distributions do not accrue interest. Indefinite dividend stopper applies if                                                     scheduled distributions are not made  in full
RATE OF DISTRIBUTION                    :           Fixed until year 5 (“First Call Date”), reset every 5 years  thereafter to a new fixed rate at prevailing 5-year Singapore                                                     Swap-Offer Rate plus [●] bps
DISTRIBUTION PAYMENT DATES              :  Semi-annually in arrear on [●] and [●] of each year, commencing on [●]
SETTLEMENT DATE                         :                [●]
FIRST RESET DATE                        :  [●]
RANKING                                 :                          Unsecured and subordinated    obligations of the Issuer and senior only to the Issuer’s ordinary units,                                           
pari passu with Parity Obligations
REDEMPTION AT THE OPTION OF THE ISSUER  :  Optional redemption at par on First Call Date and every 5 years  thereafter. Redemption at par for                                              
tax, ratings event, accounting, minimal outstanding amount, regulatory event reasons
FORMAT                                  :                           Regulation S, and Section 274 and/or  Section 275, Chapter 289 of the SFA of Singapore
FORM AND DENOMINATION                   :  Registered, SGD250K
GOVERNING LAW                           :               Singapore Law
LISTING                                 :                              SGX-ST
CLEARING                                :                          CDP
JOINT LEAD MANAGERS & BOOKRUNNERS       :  CITI (B&D), ANZ, CS, DBS, HSBC, OCBC
USE OF PROCEEDS                         :                 A-REIT intends to utilize the net  proceeds to partially fund the acquisition of a portfolio of  logistics properties in Australia
TIMING                                  :                             As early as today’s business
NETROADSHOW                             :                 http://www.netroadshow.com
                                        :                       AREIT2015
 
Comps:
                                                                                Size                        YTM/YTC
MLTSP 5 3/8 09/19/49 (Baa3/-/-)               SGD350MM        3.870% 09/19/17
AREIT 2.95 08/03/20 (A3/-/-)                       SGD100MM        3.062%
ARTSP 4.68 06/30/49 Unrated                     SGD250MM        4.707% 06/30/20
 
Overview:
 
A-REIT is a Singapore-domiciled real estate investment trust, established to invest in real
estate, real estate related assets and other permissible investments under the Property
Funds Appendix. A-REIT has been declared an authorised unit trust scheme under the
Trustees Act, Chapter 337 of Singapore.
A-REIT is constituted by the A-REIT Trust Deed. The A-REIT Trust Deed is regulated by the
SFA and the Property Funds Appendix.
Currently, A-REIT is the largest industrial and business space REIT in Singapore, owning a
diverse portfolio of properties in Singapore and China. This includes:
• Business and science park properties;
• Integrated development, amenities and retail properties (IDAR);
• High-specifications industrial properties;
• Light industrial properties/flatted factories; and
• Logistics and distribution centres.
For further details of the A-REIT portfolio of properties, please see the section “5. Portfolio
statistics and details”.
A-REIT hosts a customer base of around 1,420 international and local companies spanning
a wide range of industries and activities.
A-REIT is one of the 30 constituents of the FTSE Straits Times Index, a capitalisationweighted
stock market index that is regarded as the benchmark index for the Singapore stock
market. A-REIT is also included in several major indices such as the Morgan Stanley Capital
International Inc (MSCI Index), the European Public Real Estate Association/National
Association of Real Estate Investment Trusts (EPRA/NAREIT) and Global Property
Research (GPR) Asia 250.
As at 30 June 2015, A-REIT maintains an issuer’s rating and a senior unsecured rating of A3,
both of which were assigned by Moody’s in 2013 [...]
 
 

Another Big picture ambition... so what does it mean for GLP or even Goodman Group... if it is viable, why is it that established group such as Goodman and GLP have left the stones unturned?

http://www.straitstimes.com/business/pro...nture-deal

The Straits Times
Ascendas, China state-owned firm sign joint venture deal, Property News & Top Stories - The Straits Times
Property News -Business space solutions provider Ascendas Group said yesterday that it has signed a joint venture agreement with China's state-owned industrial and trading enterprise, China Machinery Engineering Corporation (CMEC), to partner in industrial and business park investments and developments across Asia.. Read more at straitstimes.com.

http://www.businesstimes.com.sg/real-est...0m-sources

Bids for CPF Building top S$500m: sources
Two of the highest bids said to have possibly come from Ascendas-Singbridge and Richard Li's PCPD
By
Kalpana Rashiwalakalpana@sph.com.sg@KalpanaBT

CPF Building at 79 Robinson Road. 
ST PHOTO: DANIEL NEO
NOV 19, 20155:50 AM
Singapore
BIDS for the CPF Building at 79 Robinson Road have gone past S$500 million - surpassing the S$450 million that market watchers were expecting when the tender for the ageing office block was launched two months ago, BT understands.
The tender exercise, which closed on Oct

A reit is a good buy.. GLP will still always be leaders in this field no doubt about it.

(21-11-2015, 11:33 AM)madatok Wrote: A reit is a good buy.. GLP will still always be leaders in this field no doubt about it.

Goodman Group listed on ASX is a much bigger established platform with better div yield with its international exposure and track record... bear in mind that GLP is a start up and may have been wrong footed in Brazil recently.

AREIT is very big in Singapore but its recent overseas foray will only be proven in time to come.

Matthew Meredith tipped to steer Ascendas REIT

• THE AUSTRALIAN
  
  
• NOVEMBER 25, 2015 12:00AM
  
• Ben Wilmot
  [Image: ben_wilmot.png]
  Commercial property reporter
  Sydney
  
  

[*]
Singapore-listed Ascendas REIT will draft in a senior Australian industrial executive to run its local operations, with AMP Capital’s head of industrial property believed to be heading to the firm.

The potential shift by Matthew Meredith would see him take on management of the ­nation’s eighth-largest industrial portfolio and put him in the league of operators such as Propertylink and 360 Capital. The Singaporean trust recently announced its proposal to acquire a portfolio of 26 logistics properties in Australia for $1.013 billion.
Nine are in Melbourne, the largest industrial property market in Australia in terms of land stock, another nine are in Sydney, seven are in Brisbane and one is in Perth.
OCBC Investment Research analyst Andy Wong said A-REIT would be well positioned.
“The acquisition is expected to propel A-REIT to become the eighth-largest industrial landlord in Australia, giving it the scale to benefit from the long-term growth prospects of the e-commerce industry,” he wrote.
The deal, brokered by agents Colliers International and JLL, showed a first-year pre-transaction cost net yield of 6.4 per cent — or 6 per cent once expenses are taken into account.
Mr Wong said the acquisition “does not come cheap”. He added: “However, we see some positives from this deal, as the portfolio’s long-weighted average lease to expiry (6.1 years) would add stability to A-REIT, while also diversifying its income streams and tenant base.”
AMP, Ascendas and Mr Meredith declined to comment.
In another personnel move, fund manager APN has reaffirmed its commitment to Industria REIT. It has started the hunt to replace fund manager Laurence Parisi, who is headed to a research role at Goldman Sachs.
APN noted it had also boosted its stake in Industria REIT, saying it believed it was undervalued. APN and its funds now hold just over 18 per cent of Industria.

Halted. Any idea?

http://infopub.sgx.com/Apps?A=COW_CorpAn...122015.pdf

Listed AREIT buying 1 @ Changi City Office @$420m before expenses from unlisted parent and FCL equal JV

Hi GG, a few days never see your posting, I thought you 退出江湖! [Image: 050E0000506006A29792734E54055D3B]
Anyway, it's great to see you post again. VB need your support.