Stocks to watch: Keppel Reit, Paragon Reit, SingPost

THE following companies saw new developments that may affect trading of their securities on Friday (Jun 21):

Keppel Reit : The real estate investment trust has priced A$175 million (S$158 million) of floating rate green notes due 2027. The notes will bear interest at a floating rate based on the Bank Bill Swap reference rate, along with an agreed spread, payable quarterly. Units of Keppel Reit closed S$0.005 or 0.6 per cent lower at S$0.835 on Thursday, before the news.

Paragon Reit : It has entered into a sale-and-purchase agreement for the disposal of The Rail Mall for a cash consideration of S$78.5 million. Proceeds from the sale will be used to pare down outstanding debt obligations, finance potential acquisitions and asset-enhancement initiatives, and/or make distributions to unitholders, said the manager on Thursday. Units of Paragon Reit closed S$0.005 or 0.6 per cent higher at S$0.84, before the announcement.

Singapore Post (SingPost): The group announced on Friday that it appointed Merrill Lynch Markets Australia the day before as a financial adviser to its board. SingPost said that the adviser will work with its board to “formulate optionalities for the group’s Australia businesses specifically”, while it plans to achieve scale in the country. Shares of SingPost closed flat at S$0.45 on Thursday.