OVERVIEW OF OUE H-TRUST, OUE H-REIT AND OUE H-BT
OUE H-Trust is a stapled group comprising OUE H-REIT and OUE H-BT. The OUE H-REIT Units and OUE H-BT Units are stapled together under the terms of a stapling deed dated 10 July 2013 entered into among the REIT Manager, the REIT Trustee and the Trustee-Manager (the “Stapling Deed”), and cannot be traded separately.
OUE H-REIT and OUE H-BT
OUE H-REIT is a Singapore-based REIT established with the principal investment strategy of investing, directly or indirectly, in a portfolio of income-producing real estate which is used primarily for hospitality and/or hospitality-related purposes, whether wholly or partially, as well as real estate-related assets. In this Prospectus, real estate which is used for “hospitality” purposes includes hotels, serviced residences, resorts and other lodging facilities, whether in existence by themselves as a whole or as part of larger mixed-use developments, which may include commercial, entertainment, retail and leisure facilities. Properties which are used for hospitality related purposes” include retail and/or commercial assets which are either complementary to or adjoining hospitality assets which are owned by OUE H-REIT or which OUE H-REIT has committed to buy.
- IPO Price = $0.88 – $0.90
- Projected DPU Yield = About 7.1% (2013)
- Number of Units = 434,598,000 (Page 1 of OUE Hospitality Trust IPO Prospectus)
- NAV = $0.903 –> IPO price is 1.4% Discount to the NAV. (Page 53 of OUE Hospitality Trust IPO Prospectus)
- Total Debt = S$581,130,000 (Page 53 Balance Sheet OUE Hospitality Trust IPO Prospectus)
- Total Asset = S$1,768,907,000 (Page 53 Balance Sheet OUE Hospitality Trust IPO Prospectus)
- Gearing Ratio = 32.85%
Check out HERE on how to interpret those financial ratio (e.g. NAV, Gearing Ratio) and understand why it is important. Also see other Singapore REIT comparison table here to see whether this UOE H-Trust IPO is worth to subscribe.
UOE Hospitality Trust Structure
Mandarin Orchard Hotel
See detail OUE Hospitality Trust IPO Prospectus.