Keppel REIT secured Aug. 1 an A$80 million revolving credit facility, through subsidiary Keppel REIT Fin. Co. Pte. Ltd.
The facility is guaranteed by the company's trustee, RBC Investor Services Trust Singapore Ltd.
The loan is governed by certain terms and conditions, including the trust remaining 100% owned by Keppel Corp. Ltd. Any breach of the terms of the facility may result in a cross-default that could affect as much as S$3.40 billion of Keppel REIT's borrowings.
As of Aug. 1, US$1 was equivalent to A$1.25 and S$1.36.