Keppel Reit prices A$175 million floating rate green notes due 2027
Proceeds will be used to fund the acquisition of an office building in Sydney’s central business district
KEPPEL Reit has priced A$175 million (S$158 million) of floating rate green notes due 2027, the Reit manager announced in a bourse filing on Thursday (Jun 20).
The Series 007 Notes will bear interest at a floating rate based on the Bank Bill Swap reference rate plus an agreed spread, payable quarterly.
They are expected to be issued on Jun 26 at an issue price of 100 per cent in denominations of A$250,000.
The notes are expected to mature on Jun 26, 2027.
DBS has been appointed the sole lead manager and bookrunner of the offering of the Series 007 notes.
Net proceeds from the notes, less issue expenses, will be fully used to fund, in part, the acquisition of a Grade A office building at 255 George Street in Sydney’s central business district.
This meets the eligibility criteria as set out in the Reit’s green financing framework.
Units of Keppel Reit closed S$0.005 or 0.6 per cent lower at S$0.835 on Thursday, before the announcement.
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