KEPPEL LTD.
The Board of Directors of Keppel REIT Management Limited, as manager of Keppel REIT (the "Manager"), wishes to announce that a wholly-owned subsidiary of Keppel REIT, Keppel REIT Fin. Company Pte. Ltd. ("KRFC"), has obtained the Loan Facility (as defined below) secured with a corporate guarantee by RBC Investor Services Trust Singapore Limited (in its capacity as trustee of Keppel REIT).
There is a condition in the Loan Facility making reference to the shareholding interests in the Manager or change in the manager of Keppel REIT. A description of the relevant condition is set out below:
Loan Facility | Relevant Condition |
KRFC, as borrower, obtained a S$120 million Term Loan Facility, on 8 December 2014 (the "Loan Facility"). | Under the terms and conditions of the Loan Facility agreement, the lender may give notice to KRFC, as borrower, to prepay any outstanding loans if the Manager or any wholly-owned subsidiary of Keppel Land Limited ceases to be the manager of Keppel REIT (the "Prepayment Event"). |
Assuming the occurrence of the Prepayment Event which may cause the lender to require KRFC (as borrower) to prepay the outstanding loans of the Loan Facility, and such occurrence were to cause a cross default under other borrowings of the Keppel REIT group, the aggregate level of facilities that may be affected is, as at the date of this announcement, approximately S$3,409.8 million (excluding interest and fees).
As at the date of this announcement, the aforesaid condition has not been breached.
By Order of the Board
Keppel REIT Management Limited
(Company Registration Number: 200411357K)
as manager of Keppel REIT
Choo Chin Teck / Kelvin Chua
Joint Company Secretaries
8 January 2015
The value of Units and the income derived from them may fall as well as rise. Units are not obligations of, deposits in, or guaranteed by, the Manager or any of its affiliates. An investment in Units is subject to investment risks, including the possible loss of the principal amount invested.
Investors have no right to request the Manager to redeem their Units while the Units are listed. It is intended that Unitholders may only deal in their Units through trading on the Singapore Exchange Securities Trading Limited ("SGX-ST"). Listing of the Units on the SGX-ST does not guarantee a liquid market for the Units.
The past performance of Keppel REIT is not necessarily indicative of the future performance of
Keppel REIT.
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