By Rebecca Melvin
New York, April 26 – Keppel Infrastructure Fund Management Pte. Ltd. Corp., as trustee-manager of Keppel Infrastructure Trust, priced S$250 million 4.11% notes due 2027 at par, according to a company announcement on Tuesday.
The series 004 notes will be issued on May 5 under the issuer’s $2 billion multicurrency debt issuance program.
CIMB Bank Bhd., Singapore Branch, DBS Bank Ltd., HSBC, Singapore Branch and United Overseas Bank Ltd. are joint lead managers of the notes.
Proceeds will be used for refinancing borrowings, for general working capital, capital expenditure requirements, financing or refinancing acquisitions 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$860 million of debt, including the series 004 notes.
Keppel is a Singapore company specializing in marine, property and infrastructure businesses.
| Issuer: | Keppel Infrastructure Fund Management Pte. Ltd.
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| Amount: | S$250 million
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| Issue: | Notes
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| Maturity: | May 5, 2027
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| Joint lead managers: | CIMB Bank Bhd., Singapore Branch, DBS Bank Ltd., HSBC, Singapore Branch and United Overseas Bank Ltd.
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| Coupon: | 4.11%
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| Price: | Par
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| Yield: | 4.11%
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| Pricing date: | April 26
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| Issue date: | May 5
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