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Keppel REIT subsidiary secures S$350M loan facility

A subsidiary of Singapore-based Keppel REIT obtained a term loan facility of S$350.0 million.

The Keppel REIT Fin. Co. Pte. Ltd. secured the facility with a corporate guarantee by RBC Investor Services Trust Singapore Ltd., a trustee of the commercial real estate investment trust.

Under the agreement, the subsidiary may be required to prepay any outstanding loans if Keppel REIT Management Ltd. ceases to be the manager of Keppel REIT or a wholly owned subsidiary of Keppel Corp. Ltd. without a replacement or substitute manager in place.

As of Feb. 19, US$1 was equivalent to S$1.31.