Keppel REIT convertible bonds due 2024 priced at $200m

The convertible bonds will be issued in registered form in denominations of $250,000 each.

Keppel REIT Management has announced that the proposed issue of convertible bonds due 2024 has been subscribed to and priced at $200m. BNP Paribas and Credit Suisse (Singapore) Limited are the joint lead managers for the issue, according to a SGX filing.

The convertible bonds will be issued in registered form in denominations of $250,000 each or integral multiples thereof. Upon issue, these bonds will be represented by a global certificate deposited with, and registered in the name of Bank of New York Mellon, London Branch, being a nominee of Euroclear Bank SA/NV (Euroclear) and Clearstream Banking S.A.

The bonds’ interest from and including 10 April 2019 is at the rate of 1.9% pa. The 136,752,137 new conversion units have an initial conversion price of $1.4625 each. Units represent approximately 4% of the existing units in issue.