Keppel Infrastructure Trust pricing five-year SGD notes: Client note

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Keppel Infrastructure Trust, via Keppel Infrastructure Fund Management, is pricing five-year Singapore-dollar senior unsecured fixed-rate notes, according to a client note seen by Shenton Wire Tuesday.

The initial pricing guidance is for the 4.35 percent area, with the landing indicated at around 4 percent, the client note said.

The client note said the size of the offering is “benchmark.” Typically, a benchmark size for Singapore dollar bonds would range from S$200 million to S$300 million.

The proceeds will be used for refinancing borrowings, financing the general working capital purposes and/or capital expenditure requirements, and/or financing or refinancing acquisitions, investments, or any asset enhancement works, the client note said.

The joint lead managers and bookrunners are CIMB, DBS Bank, HSBC and UOB, the client note said.

The bonds will be issued under the REIT’s S$2 billion multicurrency debt issuance program, the client note said.