Corporate digest

Singtel

SINGTEL'S ratings outlook has been restored to "stable" by Moody's Investors Service, on analysts' hopes that lower shareholder returns will improve leverage.

The latest revision reflects expectations that Singtel will remain the market leader in Singapore, even as digitalisation and business diversification should result in "a stable business and financial profile" in the next two to three years, Moody's said.

Olam International

GLOBAL food and agri-business Olam International announced on Wednesday night that it has priced a S$100 million reopening of its 4 per cent fixed rate senior unsecured notes due Feb 24, 2026 via a private placement exercise.

This increases the total bond size to benchmark quantum of S$600 million, consolidating and forming a single series with existing fixed rate senior unsecured notes.

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The reopening offering will be issued at par, plus accrued interest from the issue date of the Tranche 1 and Tranche 2 notes. It is payable semi-annually in arrear.

The notes are scheduled to be issued on Feb 3, 2021, and to mature on Feb 24, 2026.

Frasers Hospitality Trust

FRASERS Hospitality Trust's (FHT) chief executive officer (CEO) Colin Low Hsien Yang has resigned - after less than two years in the role - to "pursue other professional interests outside the real estate industry".

His resignation is effective April 10, 2021.

The managers are now recruiting someone to replace him.

He was appointed as CEO of Frasers Hospitality Trust's managers on July 1, 2019.

Before this position, he was CBRE's head of investment properties in Europe, Middle East and Africa for about nine months, states his LinkedIn profile.

Before that, he held various positions in Frasers Hospitality Trust and Frasers Hospitality over several years.