Keppel REIT prices $200m notes at 3.72%

The notes are due in 2026.

Keppel REIT has priced its $200m worth of notes due 2026 at a fixed rate of 3.72%.

The notes issued are under the $1b multicurrency debt issuance programme of Keppel REIT and HSBC Institutional Trust Services Limited.

The REIT expects to issue the notes on 15 November and mature on 15 November 2026.

Keppel will issue the notes in denominations of $250,000 each, with interest payable semi-annually.

In a bourse filing, Keppel REIT said it will use the net proceeds from the issue of the notes to finance or refinance its acquisitions and/or investments and any asset enhancement works initiated by the Keppel REIT Trustee or any trust, fund or entity in which the Keppel REIT Trustee has an interest.

The REIT will also use the net proceeds towards on-lending to any trust, fund or entity in which the Keppel REIT Trustee has an interest; financing general working capital purposes; and refinancing borrowings.

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