Keppel REIT secures ₩131b revolving credit facility
The facility is HSBC Institutional Trust Services-guaranteed.
Keppel No. 4 General Investors’ Private Real Estate Investment Limited Liability Company (Keppel 4) has secured a ₩131b ($130m) revolving credit facility guaranteed by Keppel REIT's trustee, HSBC Institutional Trust Services.
Keppel No. 4 is a subsidiary of Keppel REIT.
Under the terms of the facility, should Keppel REIT Management resign, retire, or be removed as manager of Keppel REIT, a wholly-owned entity of Keppel Capital Holdings and/or Keppel must replace it.
If this condition is unmet and Keppel No. 4 and the lender cannot agree on revised loan terms, Keppel No. 4 may need to repay all its outstanding loans within 15 days.
If the lender decides to revoke the loan, it will cause a cross-default under other borrowings of the Keppel REIT group, affecting an aggregate level of facilities of $2.7b.