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.
See also: Stoneweg: New sponsor, new chapter
Although the books have not opened, interest is reported to be at a high level.
