The REIT will be required to repay all outstanding loans within 15 business days in the event the manager of Keppel REIT and a wholly-owned subsidiary of Keppel Limited is not appointed to be the manager of Keppel REIT.
The manager of Keppel REIT has obtained a green loan facility of $150 million on Apr 29. It was not specified what the green loan facility will be utilised for.
The green loan facility contains a condition which makes reference to a change in the manager or the effective shareholder within.
