COMMERCIAL PROPERTY | Staff Reporter, Singapore

Keppel Land to issue $280m worth of notes with 2.0% yearly fixed rate

The issuance is a part of Keppel Land’s US$3b multicurrency medium term note programme.

Keppel Land is set to issue an aggregate total of $280m worth of notes in May 28, it said in a bourse disclosure.

The notes have a issue price of 100% of the principal amount, in denominations of $250,000. They will have an interest at a fixed rate of 2% per annum, payable semi-annually in arrear.

This is a part of Keppel Land’s US$3b multicurrency medium note programme it established with Keppel Land Financial Services on 22 Novemer 2012.

United Overseas Bank has been appointed as the sole lead manager for the issue of the notes.

Proceeds will go by Keppel Land and its subsidiaries to refinance existince debts, financy potential acquisition opportunities, and for the general corporate and working capital purposes.

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