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SG Morning Highlights | OCBC Prices €500 Million Fixed-Rate Covered Bonds Due 2027

Moomoo News SG wrote a column · Jun 4 20:06
SG Morning Highlights | OCBC Prices €500 Million Fixed-Rate Covered Bonds Due 2027
Good morning mooers! Here are things you need to know about today's Singapore markets:
●Singapore shares opened lower on Wednesday; STI down 0.07%
●Singapore Unlikely to Attract Large Data Centre Investments, Says Fitch
●Stocks to watch: OCBC, Seatrium, Keppel and CapitaLand Ascott Trust
●Latest share buy back transactions
-moomoo News SG
Market Snapshot
Singapore shares opened lower on Wednesday. The $FTSE Singapore Straits Time Index(.STI.SG)$ lost 0.07 percent to 3336.48 as at 9:04 am.
Advancers / Decliners is 77 to 34, with 47.46 million securities worth S$72.79 million changing hands.
Breaking News
Singapore Unlikely to Attract Large Data Centre Investments, Says Fitch
Despite its new Green Data Centre Roadmap targeting 300MW of new capacity in the near term, Singapore is unlikely to attract major foreign data centre investments, according to Fitch Solutions. The market analysis firm said most foreign investors have already turned to neighbouring markets like Malaysia, where data centre investments surged in Johor and Batam, and over 2,500MW of data centre capacity is expected in the near-term. Fitch commended Singapore's sustainability-focused roadmap but said it is unlikely to rekindle large-scale foreign investor interest in the city-state's data centre market.
Stocks to Watch
$OCBC Bank(O39.SG)$: OCBC has priced €500 million of fixed-rate covered bonds due 2027 under its US$10 billion global covered bond programme. The net proceeds will be used for general corporate purposes and the bonds, expected to be listed on the Singapore Exchange on June 12, will bear a fixed interest of 3.29% per annum, payable annually in arrears. The bonds are expected to be rated "AAA" by Moody's Investors Services and "AAA" by Fitch Ratings and will be guaranteed as to payments of interest and principal by Red Sail, which will secure the guarantee with a portfolio of assets purchased from OCBC.
$Seatrium Ltd(5E2.SG)$: Seatrium has been awarded a letter of intent by BP Exploration & Production for a deepwater new-build production unit in the US Gulf of Mexico. The offshore and marine specialist will carry out certain early engineering works on BP's Kaskida floating production unit project, pending a finalised definitive contract for engineering, procurement, construction and commissioning work. The engineering, procurement and construction contract award will be subject to mutually agreed terms and conditions, management approval, and the final investment decision by BP. The Kaskida project is a greenfield development located in the Keathley Canyon area of the Gulf of Mexico.
$Keppel(BN4.SG)$: Keppel Infrastructure Trust has acquired a 97.68% stake in Victoria-based Ventura Motors, with the remaining minority stake held by the company's Managing Director and CEO, Andrew Cornwall. Ventura Motors is the largest public bus services provider in Victoria, operating around 530 of Melbourne's 1,200 bus routes. The acquisition will see KIT's assets under management increase from $8.1 billion to $8.8 billion.
$CapLand Ascott Trust(HMN.SG)$: CapitaLand Ascott Trust has acquired the remaining 10% stake in Standard at Columbia, gaining full ownership of the freehold student accommodation property in South Carolina. The REIT funded the acquisition with proceeds from earlier divestments and expects an EBITDA yield of 7% on the total development cost, higher than the 6.2% EBITDA yield projected in 2021. Standard at Columbia is the largest university in South Carolina, with an occupancy rate of over 90%, and the pre-leasing occupancy rate for AY 2024-2025 has reached 99% by the end of May, showing a rental growth of around 4% compared to the previous academic year.
$Wilmar Intl(F34.SG)$: Wilmar International CEO Kuok Khoon Hong has acquired an additional 1,000,000 shares in the company, boosting his stake to 14.07%. The shares were acquired through four companies where he has deemed interest and were purchased at an average price of $3.090 per share. The total cost of the acquisition was $1 million, with each company acquiring $250,000 worth of shares.
Share Buy Back Transactions
SG Morning Highlights | OCBC Prices €500 Million Fixed-Rate Covered Bonds Due 2027
Source: Business Times,, Business Review
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  • friend688 : OCBC team is doing a great job to keep her equity value at check all time. Very proficient team handling investors values. Great stock! Worth the long term stay till August dividend announcement. Looking forward.