Keppel DC REIT subsidiary secures loans, green bond issuance
Keppel DC REIT subsidiary KDCR Tokyo 2 TMK secured a $92.4m term loan and a $62.8m consumption tax loan, and issued $369.6m in green bonds. A 'Mandatory Prepayment Event' requires full repayment if Keppel DC REIT Management ceases to be a subsidiary of Keppel Ltd, potentially affecting $3.19b in facilities. All facilities are guaranteed by Perpetual (Asia) Limited.
Of these, KDCR Tokyo 2 TMK secured a $92.4m (¥11b) term loan.
A subsidiary of Keppel DC REIT Management Pte. Ltd has secured new loan facilities and issued green bonds, according to a bourse filing.
KDCR Tokyo 2 TMK secured a $92.4m (¥11b) term loan and a $62.8m (¥7.48b) consumption tax loan, and separately issued $369.6m (¥44b) in green bonds to a finance party.
The agreements governing the debt include a condition requiring full repayment if Keppel DC REIT Management, the REIT’s manager, ceases to be a subsidiary of Keppel Ltd.
Under this ‘Mandatory Prepayment Event,’ all outstanding loans must be repaid and all outstanding bonds redeemed within 10 business days.
Meanwhile, if the event also triggers cross-defaults on other borrowings, facilities of about $3.19b could be affected, excluding interest and fees.
All facilities are guaranteed by Perpetual (Asia) Limited in its capacity as trustee of Keppel DC REIT.
¥1 = $0.0084
