Stock Name: CapitaMall
Company Name: CAPITAMALL TRUST
DBS Vickers Securities in a March 13 research report says: "CMT announced an issue of US$400 million worth of fixed rates notes, which is part of the US$2 billion Euro-Medium Term Note Programme secured by CMT earlier.
"The new 6-year credit facility in SGD term, which carries a fixed interest rate of 3.29% pa payable semiannually, is part of its ongoing efforts to refinance the $783 million CMBS loan due on Oct 31, 2012.
"Recall earlier that the trust has secured $800 million committed bank facilities with maturities of up to three years. These facilities, if utilized, will help CMT diversify its sources of funding, and at the same time stagger and extend its debt lease expiry.
"JCube, a lifestyle mall in the Jurong Lake district, will open doors in 2Q12 and help lift 2H12 earnings. Target price of $2.05. MAINTAIN BUY."
Company Name: CAPITAMALL TRUST
| Research House: DBS Vickers | Price Call: BUY | Target Price: 2.05 |
DBS Vickers Securities in a March 13 research report says: "CMT announced an issue of US$400 million worth of fixed rates notes, which is part of the US$2 billion Euro-Medium Term Note Programme secured by CMT earlier.
"The new 6-year credit facility in SGD term, which carries a fixed interest rate of 3.29% pa payable semiannually, is part of its ongoing efforts to refinance the $783 million CMBS loan due on Oct 31, 2012.
"Recall earlier that the trust has secured $800 million committed bank facilities with maturities of up to three years. These facilities, if utilized, will help CMT diversify its sources of funding, and at the same time stagger and extend its debt lease expiry.
"JCube, a lifestyle mall in the Jurong Lake district, will open doors in 2Q12 and help lift 2H12 earnings. Target price of $2.05. MAINTAIN BUY."
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