Keppel DC REIT - Phillip Securities 2024-11-25: Acquisition Of Keppel DC Singapore 7 & 8

• Keppel DC REIT is proposing to acquire Keppel DC Singapore 7 (SGP 7) and Keppel DC Singapore 8 (SGP 8), situated at Genting Lane, for a total consideration of ~S$1.438bn (including 10- year land lease tenure extension).
• - Read this at SGinvestors.io -

Transaction Highlights

• Keppel DC REIT announced the proposed acquisition of Keppel DC Singapore 7 (SGP 7) and Keppel DC Singapore 8 (SGP 8), situated at Genting Lane, for a total acquisition cost of ~S$1.438bn.
• The transaction will be done in three phases:
  1. Acquisition of a 99.49% economic interest in SGP 7 and SGP 8 through a notes structure for S$1.025bn.
  2. - Read this at SGinvestors.io -
  3. Extension of land tenure for another 10 years for ~S$365mil.
• The transaction is to be funded by:
  1. A private placement at S$2.09 to raise ~S$700mil. The private placement (including the upsize option) was 3.4 times covered.
  2. A preferential offering at S$2.03 based on 86 new units for every 1,000 existing units to raise S$301mil.
  3. Sponsor subscription at S$2.09 to raise S$85mil.
  4. The balance is to be funded by debt.

Impact to DPU & AUM

• Read more at SGinvestors.io.

Above is an excerpt from a report by Phillip Securities Research.
Clients of Phillip Capital may be the first to access the full PDF report @ https://www.stocksbnb.com/.

Read also Phillip's most recent report:
2025-04-21 Keppel DC REIT - Accretive Acquisitions Power Growth.

Previous report by Phillip:
2025-01-27 Keppel DC REIT FY24 Results & 2025 Outlook - Strong Rental Growth Expected.

Price targets by 2 other brokers at Keppel DC REIT Target Prices.

Listing of research reports at Keppel DC REIT Analyst Reports.

Relevant links:
Keppel DC REIT Share Price History,
Keppel DC REIT Announcements,
Keppel DC REIT Dividend Payout Dates & Corporate Actions,
Keppel DC REIT News