Keppel announces pricing of $400m perps at 2.90%

DBS Bank, Oversea-Chinese Banking Corporation, and United Overseas Bank Limited are the joint bookrunners.

Keppel Corporation announced via media release the proposed pricing of $400m perpetual securities at denominations of $250,000, with no fixed redemption date.

DBS Bank, Oversea-Chinese Banking Corporation Limited, and United Overseas Bank have all been appointed as joint bookrunners and lead managers.

These securities will be issued in the denomination of $250,000 and have no fixed redemption date. The rate of distribution applicable to the Securities will be from 16 September 2021 to 16 September 2026 at 2.9%. The initial spread is at 2.097%, and the step-up Margin is 1% per annum.

The distribution will be payable semi-annually in arrear.

These will be redeemable by 16 September 2024.

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Keppel Corporation

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