Keppel Infrastructure Trust selling new units to raise $450 mil

SINGAPORE (Mar 14): The trustee-manager of Keppel Infrastructure Trust (KIT) announced Thursday is launching a rights issue to raise gross proceeds of $450 million.

This will be by way of a placement of new KIT units to institutional and other investors, as well as a non-renounceable underwritten preferential offering of new units to KIT unitholders.

The equity fund raising is intended to raise funds for the partial repayment of a facility arising from the A$770 million ($738 million) acquisition of Ixom HoldCo by KIT’s wholly-owned indirect subsidiary, IX Infrastructure, on Feb 19.

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