Keppel DC Reit unit obtains two six-year revolving credit facilities
KEPPEL DC Reit through its wholly-owned subsidiary Keppel DC Reit Financial Company (KDCRFC) on Monday announced that it has obtained two six-year revolving credit facilities guaranteed by Perpetual (Asia) in its capacity as the trustee of Keppel DC Reit.
The first is a loan facility obtained by KDCRFC for the amount of approximately 39.3 million euros (S$62.2 million). The second one is for the amount of £36.4 million (S$67.6 million).
Under the terms and conditions of each of the two facilities, KDCRFC as borrower has to prepay any outstanding loans within 10 business days in the event that the manager ceases to be a subsidiary of Keppel Corporation. As at Monday, such a prepayment event has not occurred, noted the company.
Should a change of control that causes a cross default under other borrowings of the Keppel DC Reit occur, the aggregate level of facilities that may be affected is about S$1.6 billion, excluding interest and fees, as at Monday.
Units of Keppel DC Reit closed at S$2.54 on Monday, down 0.8 per cent or S$0.02.
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