SABANA SHARI AH COMPLIANT INDUSTRIAL REAL ESTATE INVESTMENT TRUST LISTING OF

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Cornelius Ford
5 years ago
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1 SABANA SHARI AH COMPLIANT INDUSTRIAL REAL ESTATE INVESTMENT TRUST (a real estate investment trust constituted on 29 October 2010 under the laws of the Republic of Singapore) LISTING OF SABANA SHARI AH COMPLIANT INDUSTRIAL REAL ESTATE INVESTMENT TRUST Issue of 632,800,000 Units in Sabana Shari ah Compliant REIT The Board of Directors of Sabana Real Estate Investment Management Pte. Ltd., as manager of Sabana Shari ah Compliant Industrial Real Estate Investment Trust ( Sabana Shari ah Compliant REIT, and the manager of Sabana Shari ah Compliant REIT, the Manager ), is pleased to announce that the Manager has today issued 632,800,000 units in Sabana Shari ah Compliant REIT ( Units ) comprising: 507,995,445 Units issued at an issue price of S$1.05 per Unit comprising (a) an international placement of 432,495,445 Units to investors, including institutional and other investors in Singapore, and (b) an offering of 75,500,000 Units to the public in Singapore of which 50,000,000 Units were reserved for subscription by the directors, management, employees and business associates of Sabana Investment Partners Pte. Ltd. (including its shareholders Freight Links Express Holdings Limited ( Freight Links or the Sponsor ), Blackwood Investment Pte. Ltd. and Tarian Capital Partners Pte. Ltd.) and their subsidiaries; 27,000,000 Units issued to Singapore Enterprises Limited, a wholly-owned subsidiary of the Sponsor, on the terms of the subscription agreement entered into between Singapore Enterprises Limited and the Manager; and an aggregate of 97,804,555 Units comprising: (a) (b) (c) (d) 28,571,000 Units subscribed by Al-Salam Bank-Bahrain B.S.C. on the terms of the subscription agreement entered into between Al-Salam Bank-Bahrain B.S.C. and the Manager; 17,805,555 Units subscribed by Capital Investment & Brokerage/Jordan Ltd. Co. on the terms of the cornerstone subscription agreement entered into between Capital Investment & Brokerage/Jordan Ltd. Co. and the Manager; 27,619,000 Units subscribed by FIL Investment Management (Hong Kong) Limited (on behalf of various accounts) on the terms of the cornerstone subscription agreement entered into between FIL Investment Management (Hong Kong) Limited and the Manager; and 23,809,000 Units subscribed by Meren Pte Ltd on the terms of the cornerstone subscription agreement entered into between Meren Pte Ltd and the Manager. The Hongkong and Shanghai Banking Corporation Limited, Singapore Branch ( HSBC ), is the sole financial adviser for the Offering. HSBC, United Overseas Bank Limited and Daiwa Capital Markets Singapore Limited are the joint global coordinators, issue managers, bookrunners and underwriters for the Offering. 1

2 Completion of Acquisition of the Initial Portfolio of Properties The Manager is also pleased to announce that Sabana Shari ah Compliant REIT has today completed the acquisition of the following 15 properties comprising the initial portfolio of Sabana Shari ah Compliant REIT (collectively, the Properties ): (iv) (v) (vi) (vii) the property located at 151 Lorong Chuan, Singapore ( 151 Lorong Chuan ); the property located at 8 Commonwealth Lane, Singapore ( 8 Commonwealth Lane ); the property located at 9 Tai Seng Drive, Geo-Tele Centre, Singapore ( 9 Tai Seng Drive ); the property located at 200 Pandan Loop, Pantech 21, Singapore ( 200 Pandan Loop ); the property located at 15 Jalan Kilang Barat, Frontech Centre, Singapore ( 15 Jalan Kilang Barat ); the property located at 33 & 35 Penjuru Lane, Freight Links Express Logisticpark, Singapore / ( 33 & 35 Penjuru Lane ); the property located at 18 Gul Drive, Singapore ( 18 Gul Drive ); (viii) the property located at 1 Tuas Avenue 4, Singapore ( 1 Tuas Avenue 4 ); (ix) the property located at 34 Penjuru Lane, Penjuru Logistics Hub, Singapore ( 34 Penjuru Lane ); (x) (xi) (xii) (xiii) the property located at 51 Penjuru Road, Freight Links Express Logisticentre, Singapore ( 51 Penjuru Road ); the property located at 26 Loyang Drive, Singapore ( 26 Loyang Drive ); the property located at 3 Kallang Way 2A, Fong Tat Building, Singapore ( 3 Kallang Way 2A ); the property located at 218 Pandan Loop, Singapore ( 218 Pandan Loop ); (xiv) the property located at 123 Genting Lane, Yenom Industrial Building, Singapore ( 123 Genting Lane ); and (xv) the property located at 30 & 32 Tuas Avenue 8, Singapore / ( 30 & 32 Tuas Avenue 8 ). Use of Proceeds Out of the gross proceeds of S$664.4 million raised from the Offering and the issue of the Sponsor Units and the Cornerstone Units, as well as the S$220.6 million drawn down from the Commodity Murabaha Facility 1 : 1 Refers to the committed three-year secured commodity Murabaha facility of up to S$256.0 million from The Hongkong and Shanghai Banking Corporation Limited, United Overseas Bank Limited and Malayan Banking Berhad. 2

3 approximately S$851.0 million has been utilised to satisfy in full the purchase consideration for the Properties; and the remaining amount of S$34.0 million has been, or will be, utilised to pay certain transaction costs (including expenses incurred in relation to the Offering, the issuance of the Sponsor Units and Cornerstone Units, and the Commodity Murabaha Facility). Tenancy Arrangements in respect of the Properties HSBC Institutional Trust Services (Singapore) Limited, as trustee of Sabana Shari ah Compliant REIT (the Trustee ), has today entered into the following master lease agreements: (iv) (v) (vi) (vii) (viii) (ix) (x) (xi) (xii) (xiii) (xiv) the master lease agreement between Branbury Investments Ltd and the Trustee in respect of the lease of 151 Lorong Chuan by Branbury Investments Ltd; the master lease agreement between Utraco Greentech Pte. Ltd. and the Trustee in respect of the lease of 8 Commonwealth Lane by Utraco Greentech Pte. Ltd.; the master lease agreement between Eccott Pte Ltd and the Trustee in respect of the lease of 200 Pandan Loop by Eccott Pte Ltd; the master lease agreement between Ho Bee Developments Pte Ltd and the Trustee in respect of the lease of 15 Jalan Kilang Barat by Ho Bee Developments Pte Ltd; the master lease agreement between Freight Links Express Logisticpark Pte Ltd and the Trustee in respect of the lease of 33 & 35 Penjuru Lane by Freight Links Express Logisticpark Pte Ltd; the master lease agreement between LTH Logistics (Singapore) Pte Ltd and the Trustee in respect of the lease of 18 Gul Drive by LTH Logistics (Singapore) Pte Ltd; the master lease agreement between Premier G&U Districenters Pte. Ltd. and the Trustee in respect of the lease of 1 Tuas Avenue 4 by Premier G&U Districenters Pte. Ltd.; the master lease agreement between SB (Lakeside) Investment Pte. Ltd. and the Trustee in respect of the lease of 34 Penjuru Lane by SB (Lakeside) Investment Pte. Ltd.; the master lease agreement between Freight Links Express Logisticentre Pte Ltd and the Trustee in respect of the lease of 51 Penjuru Road by Freight Links Express Logisticentre Pte Ltd; the master lease agreement between Oxley & Hume Builders Pte. Ltd. and the Trustee in respect of the lease of 26 Loyang Drive by Oxley & Hume Builders Pte. Ltd.; the master lease agreement between Fong Tat Motor Co. Pte. Ltd. and the Trustee in respect of the lease of 3 Kallang Way 2A by Fong Tat Motor Co. Pte. Ltd.; the master lease agreement between Freight Links Express Air Systems Pte Ltd and the Trustee in respect of the lease of 218 Pandan Loop by Freight Links Express Air Systems Pte Ltd; the master lease agreement between Yenom Industries Pte Ltd and the Trustee in respect of the lease of 123 Genting Lane by Yenom Industries Pte Ltd; and the master lease agreement between Freight Links Fabpark Pte. Ltd. and the Trustee in respect of the lease of 30 & 32 Tuas Avenue 8 by Freight Links Fabpark Pte. Ltd.. 3

4 In respect of 9 Tai Seng Drive, Geo-Tele Pte. Ltd. and the Trustee have today entered into the following agreements: seven novation agreements with various tenants of 9 Tai Seng Drive in respect of the novation of the respective tenancy agreements of such tenants from Geo-Tele Pte. Ltd. to the Trustee; and one assignment agreement in respect of the assignment of the respective tenancy agreements of various tenants of 9 Tai Seng Drive by Geo-Tele Pte. Ltd. to the Trustee. Management of the Properties The Manager also wishes to announce that the Trustee, the Manager and Sabana Property Management Pte. Ltd. (the Property Manager ) have today entered into 15 separate individual property management agreements in respect of the operation, maintenance, management and marketing of each of the 15 Properties by the Property Manager. Listing and Trading of the Units The Units were listed on the Main Board of the SGX-ST and commenced trading on a ready basis at 2.00 p.m. today, 26 November By Order of the Board Sabana Real Estate Investment Management Pte. Ltd. (as manager of Sabana Shari ah Compliant REIT) Kevin Xayaraj Chief Executive Officer and Executive Director 26 November

5 Important Notice This announcement is for information only and does not constitute an offer, invitation or solicitation of securities in Singapore or any other jurisdiction nor should it or any part of it form the basis of, or be relied upon in connection with, any contract or commitment whatsoever. The value of the Units and the income derived from them may fall as well as rise. Units are not obligations of, deposits in, or guaranteed by, the Manager, HSBC Institutional Trust Services (Singapore) Limited, as trustee of Sabana Shari ah Compliant REIT, Freight Links Express Holdings Limited, the Joint Bookrunners or any of their respective affiliates. An investment in the Units is subject to investment risks, including the possible loss of the principal amount invested. Investors have no right to request that the Manager redeem or purchase their Units while the Units are listed. It is intended that Unitholders may only deal in their Units through trading on the SGX-ST. Listing of the Units on the SGX-ST does not guarantee a liquid market for the Units. This announcement is not an offer or sale of the Units in the United States. The Units have not been and will not be registered under the United States Securities Act of 1933, as amended (the "Securities Act") and may not be offered or sold in the United States absent registration except pursuant to an exemption from, or in a transaction not subject to, registration under the Securities Act. Any public offering of the Units to be made in the United States will be made by means of a prospectus that may be obtained from the Manager or Sabana Shari ah Compliant REIT and that will contain detailed information about Sabana Shari ah Compliant REIT, the Manager and its management, as well as financial statements. Sabana Shari ah Compliant REIT does not intend to register any portion of the offering in the United States or to conduct a public offering of securities in the United States. Accordingly, the Units are being offered and sold outside the United States (including to institutional and other investors in Singapore) in reliance on Regulation S under the Securities Act. This announcement is not to be distributed or circulated outside of Singapore. Any failure to comply with this restriction may constitute a violation of United States securities laws or the laws of any other jurisdiction. 5

SUMMARY OF RESULTS FOR SABANA GROUP. Note: Please refer to Item 6 on Page 15 for the DPU computation. Page 2. Group Quarter Fav /

SUMMARY OF RESULTS FOR SABANA GROUP. Note: Please refer to Item 6 on Page 15 for the DPU computation. Page 2. Group Quarter Fav / FOR THIRD QUARTER FROM 1 JULY 2014 AND PERIOD FROM 1 JANUARY 2014 INTRODUCTION Sabana Shari ah Compliant Industrial Real Estate Investment ( Sabana Shari ah Compliant REIT or ) is a real estate investment