Keppel REIT has priced SGD150 million notes that are due in 2028.
The notes bear a coupon rate of 2.07% and have been issued as Series 005 under its SGD1 billion multicurrency debt issuance programme.
DBS, OCBC and UOB have been appointed as joint lead managers and bookrunners of the notes offering.
The notes are expected to be issued on 24 September 2021 in denominations of SGD250,000.
The coupon is payable semi- annually and the notes are expected to mature on 24 September 2028, unless redeemed or purchased and cancelled.
Net proceeds from the notes issue will be deployed towards financing or refinancing the REIT’s acquisitions, investments, or asset enhancement works.
It may also be utilised for the REIT’s general working capital purposes.
Keppel REIT was last done on the Singapore Exchange at SGD1.07, which currently implies a distribution yield of 5.5% according to data compiled on the Singapore REITs table.