Keppel Reit nets S$200m from debut CB

Singapore adobe stock AS 230x150
By Jonathan Breen
03 Apr 2019

Singapore-listed Keppel Real Estate Investment Trust (Reit) raised S$200m ($147.9m) from a convertible bond on Tuesday, its first tap of the equity-linked market.

Joint bookrunners BNP Paribas and Credit Suisse began taking orders for the five non-put three year CB after the Singapore market closed on Tuesday.

The duo marketed the notes at par with a 1.7% to 1.9% coupon and a 12.5% to 17.5% conversion premium over the Reit’s last ...

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