Keppel Land prices S$280m of 2% notes due 2026

KEPPEL Land, a wholly-owned subsidiary of Keppel Corporation, has priced S$280 million of 2 per cent notes due 2026, issued under its US$3 billion multi-currency medium-term note programme.

The notes will be issued at a price of 100 per cent of the principal amount and in denominations of S$250,000, with interest of 2 per cent per annum, payable semi-annually in arrear.

The net proceeds arising from the issue of the notes will be used for the refinancing of existing debts, financing of potential acquisition opportunities or for general corporate and working capital purposes.

The notes are expected to be issued on May 28, 2021 and are expected to mature on May 28, 2026, unless previously redeemed or purchased and cancelled in accordance with their relevant terms and conditions.

UOB has been appointed as the sole lead manager for the issue of the notes.