Keppel REIT’s bondholders holding S$146.5mn in principal of its 1.9% convertible bonds due 2024, exercised their put options to redeem the bonds. The REIT manager said that they will fund the redemption will through existing available loan facilities and that the move was not expected to have any material impact on cash flow and aggregate leverage. The new outstanding amounts of the convertibles will be S$ 53.5mn.
Keppel REIT’s bonds were stable with its SGD 3.15% Perp at 97.37, yielding 3.96%.
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