These transactions are part of Keppel’s asset monetisation programme and will bring Keppel’s announced monetisation in the year to date to over $2.4 billion, says the group.
For Keppel DC REIT, these acquisitions are expected to be immediately DPU accretive and will enhance total return to unitholders. On a pro forma basis, DPU for FY2024 would increase by 0.8% from 9.451 cents to 9.525 cents.
Post acquisition, Keppel DC REIT’s aggregate leverage is expected to improve from 29.8% to 29.5%, with a debt headroom of approximately $944 million.
Keppel DC REIT will fund the acquisition from its recent preferential offering and issuance of units for the acquisition fee to Keppel DC REIT Management.
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Post acquisitions, Keppel DC REIT’s assets under management (AUM) will increase by approximately 3.5% from $5.7 billion to $5.9 billion, with the proportion of Singapore assets increasing from 57.8% to 58.8% of AUM and contribution from hyperscale clients increasing by 20 basis points from 69.3% to 69.5% of rental income.
Shares in Keppel and Keppel DC REIT closed lower at $10.06 and $2.20 respectively on Dec 16.
