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SG Morning Bell: Singtel unit prices S$1b subordinated perps at 3.3%

Moomoo News ·  {{timeTz}}  · Headline

Good morning moomooers! Here are things you need to know about today's Singapore:

  • Singapore stocks open slightly lower on Thursday; STI down 0.1%

  • UOB raises US$1.5b in first dual tranche sustainability bond offering

  • Singtel unit prices S$1b subordinated perps at 3.3%

  • Stocks to watch: UOB, Singtel, Chip Eng Seng, HC Surgical, OUELH, Creative Tech

-Moomoo News SG

Market Trend

Singapore shares opened slightly lower on Thursday in muted trading, after Wall Street closed mixed overnight.

$FTSE Singapore Straits Time Index(.STI.SG)$ dipped marginally by 0.09 point to 3,195.67 as at 9.01am.

Breaking News

UOB raises US$1.5b in first dual tranche sustainability bond offering

$UOB(U11.SG)$ has priced a dual tranche of senior notes at 1.25 per cent and Tier 2 subordinated notes at 2 per cent per annum. The bank raised US$1.5 billion, with a final orderbook of US$2.75 billion.

The US dollar-denominated issuance is the first sustainability bond offering from Singapore and the first dual tranche senior and Tier 2 instrument in sustainability format globally from a bank, UOB said in a press statement on Thursday.

Singtel unit prices S$1b subordinated perps at 3.3%

$Singtel(Z74.SG)$ on Thursday announced that its wholly-owned subsidiary Singtel Group Treasury (SGT) had priced S$1 billion of subordinated perpetual securities on April 7.

Net proceeds from the issue will be applied by SGT to fund its ordinary course of business.

Stocks to watch

$UOB(U11.SG)$: The bank on Thursday said it priced Singapore's first sustainability bond offering- a dual tranche of senior notes at 1.25 per cent and Tier 2 subordinated notes at 2 per cent per annum. It raised US$1.5 billion, with a final order book of US$2.75 billion. UOB shares closed at S$26.01 on Wednesday, down S$0.07 or 0.3 per cent.

$Singtel(Z74.SG)$: Its wholly-owned subsidiary on Wednesday priced S$1 billion of subordinated perpetual securities guaranteed by Singtel. In a bourse filing on Thursday morning, the telco said its order book closed after receiving interest of about S$2.1 billion, resulting in an oversubscription. Singtel closed on Wednesday down S$0.02 or 0.8 per cent at S$2.46.

$Chip Eng Seng(C29.SG)$: The property developer on Wednesday announced that its subsidiary will be selling its shophouses along Tanjong Pagar Road and Geylang Road. The aggregate land area for the Tanjong Pagar property was about 1,653 square feet (sq ft), with a purchase price of nearly S$10.7 million. The area of the property at Geylang Road occupies 3,290 sq ft and the purchase price is S$13.5 million. Chip Eng Seng shares closed flat at S$0.50 on Wednesday, before the announcement.

$HC Surgical(1B1.SG)$: A woman who sought permission to sue the medical services group's chief executive Heah Siu Min on behalf of the group for alleged breach of director's duties, had her appeal dismissed by the Court of Appeal on Wednesday. The High Court dismissed her application last year on grounds that she had a vendetta and lacked good faith due to her conflict with surgeon Julian Ong. HC Surgical shares closed flat at S$0.45 on Wednesday.

$OUE Lippo HC(5WA.SG)$: The healthcare company received a letter of demand dated April 5 from VM III demanding the return of S$10.7 million, which VM III alleges it had paid to OUELH, according to a bourse filing on Wednesday. Previously, OUELH had received a total of nearly S$13.1 million from Crest entities comprising the judgment debt plus interest and costs. OUELH shares closed at 4.2 Singapore cents on Wednesday, up 0.1 cents or 2.4 per cent.

$Creative(C76.SG)$: The technology company announced on Wednesday that it is planning to reduce the share capital of the company to the extent of US$217.7 million. This purpose is to write off accumulated losses with a view to restructure the finances of the company and rationalise its balance sheet for it to be an accurate reflection of the value of its underlying assets. Creative Technology shares closed at S$2.68 on Wednesday, down 0.7 per cent or S$0.02.

Source: The Business Times

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