Keppel DC REIT's private placement to raise new funds for its latest acquisitions has been 3.4 times covered, with the majority of the demand from "long-only investors and real estate specialists."
The size of the placement has been increased from $985 million to just over $1.08 billion as the upsize option was exercised.
New units are raised at $2.09 each - a discount of 5.1% off the volume weighted average price of $2.2017 as of Nov 18, before the offering was announced in conjunction with the acquisition of interests in two data centre buildings, SGP KDC 7 and SGP KDC 8.
See also: Bromat Holdings to take $600,000 loan at 15% interest on top of rights issue
This round of fund-raising was managed jointly by Citigroup; DBS Bank; Oversea-Chinese Banking Corporation; The Hongkong and Shanghai Banking Corporation; UBS; Goldman Sachs and RHB.
Keppel DC REIT will resumed trading later today.
