The private placement price is likely to be at $2.074 to $2.128 per unit, or 1.5% to 4% discount to adjusted volume-weighted average price (VWAP); the preferential offering's price range is expected to be $2.03 to $2.08 per unit, or a 3.7% to 6.1% discount to VWAP.
The sponsor's subscription will be at the issue price of the preferential offering.
On Nov 19, KDC announced the proposed acquisition of two AI-ready hyperscale data centres in Singapore, SGP KDC 7 and SGP KDC 8, for $1.38 billion.
The proceeds from the EFR will be used to partially fund the proposed stake in the private company, Memphis 1, that holds stakes in SGP KDC 7 and SGP KDC 8, and to fund new notes, which will be used towards redeeming the existing notes of Memphis 1.
Although the books have not opened, interest is reported to be at a high level.
