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Keppel Reit prices A$50 million floating rate green notes due 2027

Keppel Reit prices A$50 million floating rate green notes due 2027

By Swedan Margen

Fashion

The net proceeds, after deducting issue expenses, will be fully used towards refinancing projects that meet its green financing framework criteria

KEPPEL Reit has priced its offering of A$50 million (S$43.8 million) of floating rate green notes due 2027, under its S$1 billion multicurrency debt issuance programme.

The Series 008 Notes will bear interest at a floating rate based on the Bank Bill Swap reference rate plus an agreed spread, payable quarterly, said the real estate investment trust (Reit) manager in a bourse filing on Tuesday (Nov 12).

Expected to be issued on Nov 19 and mature the same day in 2027, the notes are priced at 100 per cent in denominations of A$250,000.

DBS is the sole lead manager and bookrunner for the notes offering.

The net proceeds, after deducting issue expenses, will be fully used towards refinancing projects that meet the eligibility criteria set out in Keppel Reit’s green financing framework.

Units of Keppel Reit closed at S$0.88 on Tuesday, up S$0.01 or 1.1 per cent, before the announcement.

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Originally published by businesstimes.com.sg. Syndicated material does not necessarily reflect the views of Grazia British.

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