Keppel Reit bondholders exercise put option for redemption of S$146.5m in bonds
BONDHOLDERS who hold an aggregate of S$146.5 million in principal amount of Keppel Reit convertible bonds have exercised their irrevocable put option for the redemption of the bonds, the manager of the real estate investment trust (Reit) said on Monday.
In a bourse filing, Keppel Reit's manager said the bonds were part of a S$200 million issuance of convertible bonds due 2024, with a coupon of 1.9 per cent.
In accordance with the terms and conditions of the put option, the convertible bonds will be redeemed on April 10 at their principal amount, plus interest accrued to the date of the redemption, and be cancelled thereafter.
The manager said the redemption will be funded through existing available loan facilities and is not expected to have any material impact on the cash flow and aggregate leverage of Keppel Reit.
Following the redemption, the aggregate principal amount of the convertible bonds due 2024 remaining outstanding will be S$53.5 million.
Keppel Reit units closed at S$1.19 on Monday, down 0.8 per cent, before the announcement
GET BT IN YOUR INBOX DAILY
Start and end each day with the latest news stories and analyses delivered straight to your inbox.
KEYWORDS IN THIS ARTICLE
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
Volkswagen workers vote decisively to unionise in Tennessee
Sony deal for Paramount would draw added regulatory scrutiny
Bitcoin 'halving' has taken place: CoinGecko
Lululemon to shutter Washington distribution center, lay off 128 employees
Wall Street bonus rules return to regulatory agenda in third try
Honda to invest US$808 million in Brazil by 2030