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Keppel Infrastructure Trust launches S$1b multicurrency debt programme

THE trustee-manager of Keppel Infrastructure Trust (KIT) has set up a S$1 billion multicurrency debt issuance programme on May 23.

Under the programme, Keppel Infrastructure Fund Management may “from time to time” issue notes and perpetual securities in Singapore dollars, US dollars or other currencies agreed between the trustee-manager and the relevant dealer(s), it said in an exchange filing late Thursday night.

Net proceeds from the programme’s issuances will be used to finance or refinance acquisitions and/or investments of KIT and its subsidiaries as well as any asset enhancement works, according to the filing.

The net proceeds may also be used for general working capital purposes and/or capital expenditure requirements, or refinancing the borrowings of KIT and its subsidiaries.

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KIT has infrastructure businesses in the sectors of energy, distribution & network, and waste & water.

DBS Bank and OCBC Bank are the joint arrangers and dealers of the programme. The securities will be offered in Singapore.

All notes under the programme as well as the senior perpetual securities will be unsecured and unsubordinated. There may also be subordinated perpetual securities, which will be unsecured.

Application has been made to the Singapore Exchange Securities Trading (SGX-ST) for permission to deal in and the listing and quotation of any securities which are agreed to be listed on the SGX-ST. Such permission will be granted when the securities have been admitted to the official list of the SGX-ST.

KIT units closed up 0.5 Singapore cent at 47 cents on Thursday.

Information memorandum dated May 23: