Keppel REIT's wholly owned subsidiary Keppel REIT Financial Co. Pte. Ltd. obtained a S$100 million revolving credit facility on May 30.
The facility was secured with a corporate guarantee by RBC Investor Services Trust Singapore Ltd.
Under the terms and conditions, the borrower will have to prepay all outstanding loans if the current manager of the REIT, Keppel REIT Management Ltd., is replaced by a manager not wholly owned by the REIT.
As of May 29, US$1 was equivalent to S$1.39.