Keppel DC REIT subsidiary acquires green loan facility
Mandatory prepayment will be triggered if the company ceases to be a Keppel subsidiary.
Keppel DC REIT subsidiary Keppel DC REIT Fin. Company Pte. Ltd. has acquired a green loan facility worth $100m.
Under the terms and conditions of the facility agreement, a Mandatory Prepayment Event will be triggered where the borrower will be required to pay all outstanding loans together with accrued interest and all other money owing under or according to the Green Loan Facility within 15 business days if the manager ceases to be a subsidiary of Keppel Ltd.
Assuming the occurrence of the Mandatory Prepayment Event, and that such occurrence would cause a cross-default under other borrowings of the Keppel DC REIT group, the aggregate level of utilised and unutilised facilities that may be affected is approximately $2.67b.