Keppel DC Reit's MTN programme limit raised to S$2b from S$500m

THE limit of Keppel DC Reit's multicurrency medium term note (MTN) programme has been raised to S$2 billion from S$500 million, its manager said in a bourse filing on Thursday.

Perpetuals have also been added as a security which may be issued under the programme by the data centre focused real estate investment trust (Reit).

In addition, the trustee of Keppel DC Reit, Perpetual (Asia), has been added as an issuer for the perps.

Net proceeds from the programme will go towards financing, or refinancing acquisitions and/or investments of Keppel DC Reit, and any development or enhancement works, the manager said.

They may also be used for on-lending to any trust, fund or entity in which the Reit's trustee has an interest in, as well as financing general working capital purposes, and capital expenditure requirements of the Reit and its subsidiaries.

Among other things, the proceeds may also be utilised to refinance the borrowings of the Reit and its subsidiaries.

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The Singapore Exchange has given in-principle approval for the listing and quotation of any notes and perps issued under the amended programme.

Keppel DC Reit units closed flat at S$2.76 on Wednesday.