By Mary-Katherine Stinson
Lexington, Ky., Nov. 30 – Keppel DC REIT announced that Keppel DC REIT MTN Pte. Ltd. priced S$90 million floating-rate notes due Dec. 3, 2026. Keppel DC REIT MTN is a wholly owned subsidiary of Perpetual (Asia) Ltd., the trustee of Keppel DC REIT and the guarantor of the notes.
The notes will be issued at par on Dec. 8.
They will bear interest at SORA plus an agreed-on spread.
The notes contain a condition where an event of default may occur if Keppel DC’s manager is removed, and the replacement or substitute manager is not appointed in accordance with the terms of the Keppel DC REIT trust deed. This may trigger cross defaults in the group’s other facilities and debt issues.
DBS Bank Ltd. has been appointed as the sole dealer and bookrunner of the series 005 notes, which are being issued under the company’s S$2 billion multicurrency medium-term note program.
Proceeds will be used for general corporate purposes, including refinancing existing debt of Keppel DC REIT and its subsidiaries.
The Singapore real estate investment trust invests in assets primarily for data center purposes.
Issuer: | Keppel DC REIT MTN Pte. Ltd.
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Guarantor: | Perpetual (Asia) Ltd.
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Amount: | S$90 million
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Issue: | Floating-rate notes, series 005
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Maturity: | Dec. 3, 2026
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Bookrunner: | DBS Bank Ltd.
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Coupon: | SORA plus a spread
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Price: | Par
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Announcement date: | Nov. 30
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Settlement date: | Dec. 8
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