Singapore-listed Keppel REIT announced on 30 March that it has priced SGD75 million (USD53 million) in aggregate principal amount of 3.275% notes due 2024 through a wholly-owned subsidiary of its trustee.

The notes are being issued under the REIT’s SGD1 billion multicurrency debt issuance programme that was first established in January 2009.

DBS Bank has been appointed as the sole dealer, and bookrunner for the issue of the notes, which will be issued at 100% of the principal amount, and in denominations of SGD250,000.

Interest on the notes, which will bear a fixed coupon of 3.275% per annum, will be payable semi-annually until maturity on 8 April 2024.

The notes are expected to be issued on 6 April 2017 and listed on the Singapore Exchange (SGX) on the day after.

Proceeds received from the notes issue will be used to refinance the borrowings of Keppel REIT.

Units of Keppel REIT last changed hands on the SGX at SGD1.04.