<div id="readability-page-1"><div><p>[SINGAPORE] The manager of  Keppel Real Estate Investment Trust (Reit)  said on Wednesday (Dec 24) that it has obtained three bridge loan facilities totalling about S$892 million through a wholly owned subsidiary.</p><p>The facilities, all of which are dated Wednesday and guaranteed by HSBC Institutional Trust Services (Singapore), contain conditions relating to changes to the Reit’s manager.  </p><p>These include a facility for a S$300 million bridge loan, under which the borrower must “prepay all outstanding loans within 10 business days” if:</p><ul><li>The manager ceases to manage Keppel Reit or is no longer a wholly owned subsidiary of Keppel Capital; and</li><li>A wholly owned subsidiary of Keppel Capital is not “appointed as a replacement or substitute manager of Keppel Reit”. </li></ul><p>Under the second facility, for a S$297.3 million bridge loan, the borrower must make full prepayment in five business days of notice if:</p><ul><li>The manager ceases to manage Keppel Reit; or</li><li>The manager is no longer fully directly and/or indirectly owned by Keppel, and a wholly owned subsidiary of Keppel is not appointed as a replacement or substitute manager.</li></ul><p>For the third facility, which covers a S$294.7 million bridge loan, the borrower must prepay the loans in 10 business days of notice if:</p><ul><li>The manager is no longer wholly owned by Keppel; or</li><li>The manager ceases to manage Keppel Reit, and a wholly owned subsidiary of Keppel is not appointed as the Reit’s manager.</li></ul><p>Keppel Reit units closed Wednesday 0.5 per cent or S$0.005 higher at S$0.975.</p></div></div>

K71U

<p>Keppel Reit has secured three bridge loans totaling S$892 million through a subsidiary, guaranteed by HSBC Institutional Trust Services. The loans have conditions related to changes in the Reit's manager, requiring prepayment if the manager ceases to manage Keppel Reit or is no longer a wholly owned subsidiary of Keppel Capital. Keppel Reit units closed 0.5% higher at S$0.975.</p>

Keppel Reit unit secures three bridge loans totalling S$892 million