Keppel REIT prices S$150M notes due 2028

Keppel REIT’s Ocean Financial CenterKeppel REIT’s Ocean Financial Center. Photo taken pre-Covid.

Keppel REIT has priced S$150 million notes due 2028 at 2.07 percent, as the series 005 issued under the REIT’s S$1 billion multicurrency debt issuance program, the REIT said in a filing to SGX Wednesday.

The proceeds will be used to finance or refinance acquisitions and/or investments, asset enhancement works, financing general working capital purposes and refinancing borrowings, Keppel REIT said.

The joint lead managers and bookrunners of the offering are DBS Bank, OCBC and UOB, Keppel REIT said.

The series 005 notes, which are expected to be issued on 24 September, will be in denominations of S$250,000, the filing said, adding application will be made for the notes to trade on SGX.

The maturity date is expected to be 24 September 2028, unless the notes are redeemed or purchased and cancelled, the REIT said.

The notes will be issued by Keppel REIT MTN, a wholly owned subsidiary of RBC Investor Services Trust Singapore, in its capacity as the trustee of Keppel REIT, the filing said.