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Keppel-KBS US REIT trustee obtains US$50M term loan

Perpetual (Asia) Ltd., the trustee of Singaporean office real estate investment trust Keppel-KBS US REIT, landed a US$50.0 million, five-year term loan facility.

The loan agreement stipulates that a mandatory prepayment event shall occur if Keppel Corp. Ltd. and its subsidiaries, KBS Capital Advisors LLC and its subsidiaries, and KBS Pacific Advisors Pte. Ltd. cease to collectively own all the issued share capital in Keppel-KBS manager Keppel-KBS US REIT Management Pte. Ltd.