Keppel REIT trustee to issue 3.15% perpetual securities at $150m | Singapore Business Review

Keppel REIT trustee to issue 3.15% perpetual securities at $150m

They will be issued on 11 September.

RBC Investor Services Trust, as trustee of Keppel REIT Management, has priced its offering of $150m 3.15% fixed-rate subordinated perpetual securities, a bourse filing revealed.

The securities are expected to be issued on 11 September and are to be listed on the SGX on or about 14 September. They will be issued in denominations of $250,000 or its multiples, and will have no fixed final redemption date.

The Series 004 Securities will confer a right to receive distribution payments at a fixed rate of 3.15% per annum, payable semi-annually in arrear, from and including the issue date to, but excluding 11 September 2025.

OCBC has been appointed as the sole lead manager and bookrunner of the securities.

Net proceeds from this issue will be used to refinance the trustee's existing $150m 4.98% subordinated perpetual securities.

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