The manager of Keppel REIT has obtained a green loan facility of $150 million on Apr 29. It was not specified what the green loan facility will be utilised for.
The green loan facility contains a condition which makes reference to a change in the manager or the effective shareholder within.
The REIT will be required to repay all outstanding loans within 15 business days in the event the manager of Keppel REIT and a wholly-owned subsidiary of Keppel Limited is not appointed to be the manager of Keppel REIT.
Assuming the occurrence of the mandatory prepayment event, the aggregate leverage of facilities that may be affected is about $2.67 billion, excluding interest and fees.
Units in Keppel REIT closed flat at 85 cents on Apr 29.
