Keppel DC Reit’s private placement upsized to S$625 million after ‘strong demand’
It is intended to partially finance the acquisitions of two Japan data centres
Keppel DC Reit's private placement has been expanded to S$625 million due to "strong demand" from investors, according to the trust's manager. The issue price per new unit stands at S$2.10, which represents a 4.4% discount compared to the average price of existing units. Approximately 297.6 million new units will be issued, up from the initially planned 280.1 million units.
The placement is intended to fund the acquisition of two Japan data centres, Tokyo Data Centre 4 and Tokyo Data Centre 5, through the collective purchase of almost the entire stake in both properties. DBS, OCBC, Jefferies Singapore, and UOB served as the joint bookrunners and underwriters for this private placement, which closed on Tuesday.
The remaining S$9.2 million from the placement will cover the fees and expenses associated with the offering, while the remaining units will start trading on September 10.
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