Keppel Land has priced $280 million worth of five-year notes due May 28, 2026. The notes are expected to be issued on May 28.
The SGD-denominated notes will carry a coupon of 2.00% per annum, payable semi-annually and will be issued under Keppel Land’s US$3 billion ($4 billion) multicurrency medium term note programme.
The notes will be issued at an issue price of 100% and in denominations of $250,000.
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United Overseas Bank Limited (UOB) has been appointed as the sole lead manager for the issue of the notes.
The net proceeds of the notes will be used by Keppel Land and its subsidiaries for the refinancing of existing debts, financing potential acquisition opportunities and, or for Keppel Land’s general corporate and working capital purposes.
Shares in Keppel closed 1 cent higher or 0.2% up at $5.20 on May 20.
