Keppel DC REIT Obtains Two Credit Facilities Worth $300 Mil In Total
The REIT did not specify what the $150 mil revolving credit facility and $150 mil revolving green credit facility will be used for.
The manager of Keppel DC REIT (KDC REIT) said that the REIT has obtained two loan facilities worth a total of $300 million, according to a bourse filing on March 28.
The two facilities are a $150 million revolving credit facility, and a $150 million revolving green credit facility.
The bourse filing does not state what the term facilities will be used to finance.
The manager said that the facility contains conditions where mandatory prepayment events may occur.
KDC REIT will be required to pay all outstanding loans together with accrued interest and all other moneys owing under or pursuant to the loan facilities within 10 business days in the event that the manager ceases to be a subsidiary of Keppel.
In the event the prepayment occurs and such an occurrence would cause a cross default under other borrowings of KDC REIT group, the aggregate level of utilised and unutilised facilities that may be affected is as at the date of this announcement $2,578 million excluding interest and fees.
Units in Keppel DC REIT closed 4 cents lower or 1.826% down at $2.15 on March 28.
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