Keppel DC REIT (SG:AJBU) has released an update.
Keppel DC REIT’s subsidiary, KDCR Tokyo 1 TMK, has secured a loan facility and issued bonds, collectively known as Debt Facilities, backed by a guarantee from Perpetual (Asia) Limited as trustee. The Debt Facilities contain clauses that require repayment within 10 business days if the REIT’s management company is no longer a subsidiary of Keppel Ltd., which could trigger a cross default affecting approximately S$2.2 billion. As of the announcement date, this mandatory repayment event has not occurred.
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