In today’s briefing:
- Yanlord Land – Earnings Flash – FY 2023 Results – Lucror Analytics
- Smartkarma Insights: OUE Commercial REIT – Well-Heeled Exposure to SG Commercial Property
Yanlord Land – Earnings Flash – FY 2023 Results – Lucror Analytics
Yanlord’s FY 2023 results were robust in our view. The company reported solid top-line growth, albeit the margin contracted from a high base as projects were delivered outside of Shanghai. Still, cash flows were healthy, which supported meaningful debt reduction.
Yanlord’s near-term debt repayment risks have eased materially, after the company fully redeemed the YLLGSP 6.78 ’24s at maturity yesterday and successfully refinanced the USD syndication loan due in February 2024. The company’s next bond maturity will be in May 2026, when the USD 500 mn YLLGSP 5.125 ’26s come due.
Smartkarma Insights: OUE Commercial REIT – Well-Heeled Exposure to SG Commercial Property
Smartkarma Insights: OUE Commercial REIT – Well-Heeled Exposure to SG Commercial Property
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