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BUILDING & ENGINEERING, MARKETS & INVESTING | Staff Reporter, Singapore
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Keppel Infrastructure Trust to issue $100m 4.75% subordinated perpetual securities

The second tranche will be consolidated with the $200m 4.75% perpetual securities issued on 12 June.

Keppel Infrastructure Trust (KIT) is set to issue a second tranche of $100m in aggregate principal amount of 4.75% subordinated perpetual securities, a filing with the Singapore Exchange (SGX) revealed.

Dubbed the “Series 001 Tranche 002 Securities,” they will be consolidated with the $200m in aggregate principal amount of 4.75% subordinated perpetual securities issued on 12 June to form a single series. The Series 001 Tranche 002 Securities will be issued under Keppel Infrastructure Fund Management’s $1b multicurrency debt issuance programme.

The net proceeds arising from the issue of the Series 001 Tranche 002 Securities, after the deduction of issue expenses, will be used to refinance borrowings and general working capital purposes.

The Series 001 Tranche 002 Securities are expected to be issued on 25 June.

Oversea-Chinese Banking Corporation (OCBC) is the sole lead manager and bookrunner for the Series 001 Tranche 002 Securities.

An application will be made to the Singapore Exchange Securities Trading (SGX-ST) for permission to deal in the listing and quotation of the Series 001 Tranche 002 Securities on the SGX-ST. 

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