Keppel Infrastructure Trust has priced S$200 million notes due 2026 at 3 percent, the trust said Wednesday, compared with an initial pricing guidance of 3.125 percent from a client note seen by Shenton Wire.
Bond prices move inversely to yields.
The net proceeds are earmarked for refinancing borrowings, financing general working capital and/or capital expenditure and/or financing or refinancing acquisitions and/or asset enhancement initiatives (AEI), Keppel Infrastructure Trust said.
The notes, which have a maturity date of 1 December 2026, are being issued as series 003 under the trust’s S$2 billion multi-currency debt issuance program, the filing said.
The bonds are expected to be issued on 1 December, the filing said.
The notes will be issued by Keppel Infrastructure Fund Management as the trustee-manager of Keppel Infrastructure Trust, the filing said.
HSBC’s Singapore branch, OCBC and UOB are the joint lead managers of the offering, the filing said.