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MarketScreener Homepage  >  Equities  >  Singapore Stock Exchange  >  Singapore Technologies Engineering Ltd    S63   SG1F60858221

SINGAPORE TECHNOLOGIES ENGINEERING LTD

(S63)
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Singapore Technologies Engineering : JV to Sell Aircraft Engines Via Securitization

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02/20/2020 | 07:29pm EDT

By Ronnie Harui

Singapore Technologies Engineering Ltd. said Friday that the engine-leasing joint venture of its aerospace arm has agreed to sell 30 aircraft engines via a securitization structure to free up capital for investments.

The structure includes about US$257 million of fixed-rate notes offered in three tranches and the placement of equity notes, according to an exchange filing.

The company expects its JV to retain 10% of the equity notes, while an affiliate of Marubeni Corp. and one or more investors will purchase the balance.

The transaction consists of 30 aircraft engines that power primarily narrow-body aircraft leased to 13 airlines across 11 countries, with a weighted average remaining lease term of about six years, Singapore Technologies Engineering said.

 

Write to Ronnie Harui at ronnie.harui@wsj.com

 

Stocks mentioned in the article
ChangeLast1st jan.
MARUBENI CORPORATION -4.16% 539 End-of-day quote.-2.69%
SINGAPORE TECHNOLOGIES ENGINEERING LTD 5.05% 3.12 End-of-day quote.1.63%
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Financials (SGD)
Sales 2020 8 474 M
EBIT 2020 735 M
Net income 2020 592 M
Debt 2020 2 048 M
Yield 2020 4,92%
P/E ratio 2020 15,8x
P/E ratio 2021 13,9x
EV / Sales2020 1,37x
EV / Sales2021 1,23x
Capitalization 9 520 M
Chart SINGAPORE TECHNOLOGIES ENG
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Mean consensus BUY
Number of Analysts 15
Average target price 4,42  SGD
Last Close Price 3,05  SGD
Spread / Highest target 62,0%
Spread / Average Target 44,9%
Spread / Lowest Target 31,1%
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Managers
NameTitle
Sy Feng Chong President, Chief Executive Officer & Director
Chong Seng Kwa Chairman
Chee Keng Foo Chief Financial Officer
Bernard Chew Chief Information Officer
Weng Yip Chan Chief Technology & Digital Officer
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