CDL Hospitality Trusts Prices S$100 Million 4% Subordinated Perpetual Securities

CDL Hospitality Trusts ( (SG:J85) ) has issued an announcement.

CDL Hospitality Trusts, through DBS Trustee as trustee of CDL Hospitality REIT, has priced S$100 million of 4.00% subordinated perpetual securities under its S$1.5 billion multicurrency debt issuance programme, with DBS Bank, OCBC and UOB acting as joint lead managers. The perpetual instruments, which carry no fixed redemption date, offer a 4.00% distribution rate until August 20, 2031, after which the rate will reset every five years to the prevailing 5-year SORA OIS plus a 2.183% spread, can be redeemed at the issuer’s option from the first reset date, and rank as direct, unsecured, subordinated obligations alongside other parity securities.

The most recent analyst rating on (SG:J85) stock is a Hold with a S$0.90 price target. To see the full list of analyst forecasts on CDL Hospitality Trusts stock, see the SG:J85 Stock Forecast page.

More about CDL Hospitality Trusts

CDL Hospitality Trusts is a stapled group comprising CDL Hospitality Real Estate Investment Trust and CDL Hospitality Business Trust, both established in Singapore. The group focuses on hospitality-related real estate investments, typically owning and managing income-producing hotel and lodging assets, and taps capital markets regularly via multicurrency debt programmes to support its portfolio and growth strategy.

Average Trading Volume: 1,368,212

Technical Sentiment Signal: Hold

Current Market Cap: S$1.09B

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