- Issuer: LMIRT Capital
- Guarantor: HSBC Institutional Trust Services (Singapore) Ltd (in its capacity as trustee of Lippo Malls Indonesia Retail Trust (LMIR Trust))
- LMIR Trust rating: Baa3/–/–
- Unrated
- Reg S
- Use Of Proceeds : For refinancing and potential acquisition financing
* New 5Y SGD announced, IPG at “Low 4%s”
* Corporate Rating of Baa3 issued by Moody’s <<Report Attached>>
* Issue size expect SGD75mm
* Timing: Expect today’s business
* Private Bank Rebate: 25cents
RECENT NEW ISSUE COMPS:
SOILBUILD REIT 3.45 05/18 101.25 2.995%
CAMBRIDGE MTN 3.95 05/20 100.95 3.737%
OUE 3.80 04/20 100.25 3.742%
Outstanding bonds (indicative prices).
Comparables (indicative prices).
Coupon looks decent compared to the recent Reit papers yet this would be the lowest coupon LMIRT has paid, not that they are regular issuers.
But the stock pays dividends of 10% !
Good luck !