Corporate digest

Oxley Holdings

OXLEY Holdings has priced S$70 million of 6.9 per cent notes due 2024, issued under its US$1 billion guaranteed euro medium-term note programme.

The property developer said net proceeds will be used for general corporate purposes including the refinancing of borrowings, as well as working capital and capital expenditure requirements of the group.

The series 4 notes are expected to be issued on July 8, 2021. They will bear a fixed rate of 6.9 per cent per annum and will mature on July 8, 2024. Credit Suisse and DBS have been appointed as the arrangers and joint bookrunners for the deal.

LMIRT

LIPPO Malls Indonesia Retail Trust (LMIRT) will temporarily close 16 retail malls and six retail spaces in Java and Bali, in view of rising Covid-19 cases and anticipated emergency restrictions on public activity.

The malls and retail spaces will be closed from July 3 to July 20, with only essential services such as supermarkets, pharmacies, banks and clinics allowed to remain open with shorter operating hours and capacity limits. Restaurants and cafes will be able to offer only delivery and takeaway.

LMIRT will extend rental waivers to tenants who cannot operate during the period of closure, and is considering extending additional rental support and utilities and service charge discounts.

Creative Technology

Creative Technology expects to report an operating loss for FY2021, it said on Friday.

Revenue is estimated at around US$36 million for the second half of the financial year ended June 30, 2021, which is an increase from US$30 million in the corresponding period of the previous year, but a decrease compared to US$47 million in the first half of FY2021.

Work from home, home-based learning and other Covid-19 measures boosted demand for the consumer electronics firm's products in H1 FY2021, but the demand surge moderated with the gradual relaxation of such measures in H2 FY2021.

For the full year of FY2021, Creative Technology expects revenue to be US$83 million, compared to US$61 million for FY2020.