Keppel REIT trims conversion price on 1.9% convertibles due 2024

By Mary-Katherine Stinson

Lexington, Ky., Jan. 30 – Keppel REIT Management Ltd. announced an adjustment to the conversion price of its S$200 million 1.9% convertible bonds due April 10, 2024 (ISIN: XS1978206834), according to a notice.

The conversion price will be lowered to S$1.2546 per unit from S$1.2999 per unit.

The new conversion price will take effect on March 15.

The adjustment is in relation to the second-half distributions of S$0.0290 per unit declared for the period from July 1, 2023 to Dec. 31, which is to be paid to unitholders of record as of 5 p.m. ET on Feb. 7.

Keppel is a Singapore-based real estate investment trust.

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