By Rebecca Melvin
Concord, N.H., Nov. 24 – Keppel Infrastructure Fund Management Pte. Ltd. Corp., as trustee-manager of Keppel Infrastructure Trust, has priced S$200 million of 3% notes due 2026 at par, according to a company announcement on Wednesday.
The series 003 notes will be issued on Dec. 1 under the issuer’s $2 billion multicurrency debt issuance program.
HSBC Singapore Branch, Oversea-Chinese Banking Corp. Ltd. and United Overseas Bank Ltd. are joint lead managers of the notes deal.
Proceeds will be used for refinancing borrowings, for general working capital and/or capital expenditure requirements and/or financing or refinancing acquisitions and/or investments and any asset enhancement works of the group.
A default may occur if the trustee-manager changes and the replacement is not appointed in accordance with the terms of the trust deed. If such a breach occurs it may trigger cross defaults, affecting about S$570 million of debt, including the series 003 notes.
Keppel is a Singapore company specializing in marine, property and infrastructure businesses.
| Issuer: | Keppel Infrastructure Fund Management Pte. Ltd.
|
| Issue: | Notes
|
| Amount: | S$200 million
|
| Maturity: | Dec. 1, 2026
|
| Joint lead managers: | HSBC Singapore Branch, Oversea-Chinese Banking Corp. Ltd. and United Overseas Bank Ltd.
|
| Coupon: | 3%
|
| Price: | Par
|
| Yield: | 3%
|
| Pricing date: | Nov. 24
|
| Issue date: | Dec. 1
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
