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.
