THE following companies saw new developments that may affect trading of their securities on Wednesday (Jan 10):
OCBC: OCBC has priced S$450 million in perpetual capital securities at 4.05 per cent under its US$30 billion global medium-term note programme.
They are first callable in 2029 and are intended to qualify as as OCBC’s Additional Tier-1 capital, announced the bank on Wednesday (Jan 10).
OCBC will be the sole lead manager and bookrunner for the issue. The bank said it intends to use the net proceeds for general corporate purposes.
Keppel: Keppel’s Infrastructure Division has signed a multi-year power purchase agreement with semiconductor manufacturer GlobalFoundries to provide electricity at the latter’s Singapore site.
Under the agreement, Keppel will provide 150 to 180 megawatts of electricity each year to power GlobalFoundries’ Singapore operations. This comes as the manufacturer’s Singapore site ramps up production, following the opening of its US$4 billion expanded fabrication plant here in September 2023.
GlobalFoundries is expected to be a “significant long-term off-taker of electricity” from the upcoming Keppel Sakra Cogeneration Plant (KSC), both companies said in a joint statement on Tuesday (Jan 9).
Sabana Reit: THE trustee of Sabana Real Estate Investment Trust (Reit) has filed a court application to seek a declaration that amendments to the trust deed are required to implement the resolutions approved at the extraordinary general meeting (EGM) on Aug 7, 2023.
Under the court application, the trustee – HSBC Institutional Trust Services – is also requesting a declaration to certify that amendments to the trust deed do not materially prejudice the interests of unitholders, and do not operate to release, to any material extent, the trustee or manager from any responsibility to the unitholders.
CapitaLand Investment: THE Ascott, CapitaLand Investment’s (CLI) lodging business unit, and CapitaLand Wellness Fund have jointly acquired a freehold hotel with each holding a 50 per cent stake in the property.
While CLI did not disclose the hotel name and consideration price on Tuesday (Jan 9), Mingtiandi, a property information portal, reported on Sunday (Jan 7) that Hong Kong-based private equity firm Gaw Capital Partners has completed the sale of the Hotel G, a 308-unit budget hotel at the Bugis area, to CLI’s lodging unit at just under S$240 million.
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