Keppel REIT has obtained three loan facilities totalling A$440 million ($370.18 million) on Nov 25.
The three loan facilities are A$120 million, A$120 million and A$200 million respectively. The usage of these loan facilities have not been specified by Keppel REIT.
All three loan facilities contain conditions which make reference to a chance in the manager or the effective shareholding therein.
Assuming the occurrence of any of the conditions which include the manager of Keppel REIT ceasing to be the manager, it would cause a cross default under other borrowings of the REIT group, and the aggregate level of facilities affected would be about $2.621 million.
Units in Keppel REIT closed flat at $1.05 on Nov 25.
