Keppel Infrastructure Trust proposes S$250 million 4.11% notes due 2027

THE trustee-manager of Keppel Infrastructure Trust (KIT) said on Tuesday (Apr 26) that the trust is proposing to issue S$250 million notes with an interest rate of 4.11 per cent per annum due 2027 under its S$2 billion multi-curency debt issuance programme. In a bourse filing, Keppel Infrastructure Fund Management said the Series 004 notes will be issued at an issue price of 100 per cent of their principal amount.

The interest will be payable semi-annually in arrear on May 5 and Nov 5 of each year, with the first interest payment date falling on Nov 5, 2022. The Series 004 Notes are expected to be issued on May 5, 2022 and are due to mature on May 5, 2027.

CIMB Bank, Singapore Branch; DBS Bank; The Hongkong and Shanghai Banking Corporation, Singapore Branch; and United Overseas Bank have been appointed as the joint lead managers for the issue of the Series 004 notes.

Keppel Infrastructure Fund Management said the net proceeds from the issue of the Series 004 Notes, after the deduction of issue expenses, will be used by KIT towards the following: refinancing the borrowings of the group; financing the general working capital purposes and/or capital expenditure requirements of the group; and/or financing or refinancing acquisitions and/or investments of the group and any asset enhancement works of the group.

Units of KIT closed flat on Tuesday at S$0.56.