Keppel Infrastructure Trust prices S$200 million in notes due 2033 at 2.8%
Net proceeds will be used to fund acquisitions, general working capital purposes, among other things
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[SINGAPORE] The trustee manager of Keppel Infrastructure Trust (KIT) is proposing to price S$200 million in notes due Apr 28, 2033, at 2.8 per cent per annum.
The notes are part of the trust’s S$3 billion multicurrency debt issuance programme, KIT said in a bourse filing on Tuesday (Apr 21).
The notes are payable semi-annually in arrears on Apr 28 and Oct 28 of each year. The first interest payment date is Oct 28, 2026.
DBS, OCBC and UOB have been appointed joint lead managers of the notes.
Net proceeds will go towards financing or refinancing acquisitions and/or investments of the group and asset-enhancement works. It will also fund KIT’s general working capital purposes and/or capital expenditure requirements, as well as refinance its borrowings.
Shares of KIT ended Tuesday flat at S$0.535, before the announcement.
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