Cityspring Infrastructure Trust

[flinger]

If they do that, their debt gearing will shoot up and I think at the present time, they would not be able to handle that, unless they are going for all in or bust type of model.......=)

[freedom]

Temasek can set up another trust to hold the new asset if they really want since cityspring clearly does not fit its purpose any more.

[Nick]

Have you guys forgotten about debt-free K-Green Trust !!! Very likely, this will be the one that will eat any plants up for sale in the near future.

(Not Vested)

[cif5000]

Very likely, this will be the one that will eat any plants up for sale in the near future.

You mean Tuaspring?

[KopiKat]

Credit Rating of Basslink Bonds

Extracts,

As part of CitySpring’s acquisition of Basslink in August 2007, Basslink issued three bonds maturing in 2015, 2017 and 2019 (“Basslink Bonds”). The Basslink Bonds are rated by Standard and Poor’s (“S&P”) and Moody’s.

Moody’s has informed the Trustee-Manager that it has revised the outlook on the Basslink Bonds’ Baa2 underlying senior secured rating to negative from stable. A copy of Moody’s press release is attached.

The Basslink Bonds is rated BBB- with a stable outlook by S&P.

This change in ratings outlook by Moody’s on the Basslink Bonds has no impact on the annual distribution per unit targeted for FY13 which was announced on 3 May 2012


<Not Vested>

[propertyinvestor]

If they do that, their debt gearing will shoot up and I think at the present time, they would not be able to handle that, unless they are going for all in or bust type of model.......=)

Just issue rights shares lah. So simple.

They have done it before and they will do it again! And might as well issue triple the size so they can use the money to retire the Basslink debt.

[camelking]

Agree.
Matter of time before they do it again.

Anyway, it is probably a good time for them to do an issue with so much liquidity globally.
But it is frightening to think what would happen to CitiSpring without those massive assets buying programs by major countries.

Got into this share after the last right issue at 39cents.
Although the investment is "in money" after taking into account distribution and current price,
where else can i earn 7 to 8% yield in current low interest environment?

This is, to me, what keeping the share price of Citispring and other shares at current level....

Vested

[Nick]

Lim & Tan wrote a report today - http://www.remisiers.org/cms_images/rese...122012.pdf - stating that Cityspring could benefit from following MIIF and disposing its infrastructure assets.

Cityspring closed at 44.0 cents and pays 0.82 cents DPU quarterly.

(Not Vested)

[Share Investor]

Lim & Tan wrote a report today - http://www.remisiers.org/cms_images/rese...122012.pdf - stating that Cityspring could benefit from following MIIF and disposing its infrastructure assets.

Cityspring closed at 44.0 cents and pays 0.82 cents DPU quarterly.

(Not Vested)

No motivation from manager as it could get recurring income. For MIIF case, it seems there has been tremendous pressure from shareholders.

[greengiraffe]

Lim & Tan wrote a report today - http://www.remisiers.org/cms_images/rese...122012.pdf - stating that Cityspring could benefit from following MIIF and disposing its infrastructure assets.

Cityspring closed at 44.0 cents and pays 0.82 cents DPU quarterly.

(Not Vested)

No motivation from manager as it could get recurring income. For MIIF case, it seems there has been tremendous pressure from shareholders.

For MIIF, it is the last remaining listed infrastructure listing that Macquarie Bank has left in its portfolio. Since GFC, MacBank's REIT and Infrastructure model has broken down and with ongoing tough conditions in the global investment banking environment, MacBank has laid off even more investment bankers and hence the winding up of MIIF.

Cityspring - Temasek remains the key substantial holder and hence unlikely there will be similar actions.