Keppel Infrastructure Trust Upsizes Multicurrency Debt Issuance Programme to S\$3 Billion

Key Highlights

• Programme Upsized: Keppel Infrastructure Fund Management Pte. Ltd., as trustee-manager of Keppel Infrastructure Trust (“KIT”), has announced the completion of an update and upsize of its multicurrency debt issuance programme (“Programme”) from S\$2 billion to S\$3 billion.
• Date of Completion: The upsize was completed on 20 April 2026.
• Arrangers and Dealers: DBS Bank Ltd. and Oversea-Chinese Banking Corporation Limited will serve as arrangers and dealers under the updated programme.
• Issuance Options: Under the amended programme, KIT may issue notes and perpetual securities denominated in Singapore dollars, US dollars, or other agreed currencies. These may be offered in Singapore only to institutional or accredited investors as defined under Singapore law.
• Use of Proceeds: Funds raised will provide flexibility for the group, supporting acquisitions, investments, asset enhancement, working capital, capital expenditure, refinancing, or other specified purposes.
• Listing on SGX-ST: Application has been made for the listing of issued securities on the Singapore Exchange Securities Trading Limited (SGX-ST), subject to admission and official listing.

Details for Investors and Shareholders

This upsize of the Programme is a significant development for KIT and its investors. By increasing the maximum programme size to S\$3 billion, KIT is enhancing its financial flexibility and positioning itself to pursue larger and more strategic investments, asset enhancements, and refinancing opportunities.

• Potential Impact on Share Value: The ability to raise additional capital through debt and perpetual securities can support KIT’s growth ambitions and operational needs. If deployed effectively, the proceeds can drive earnings growth, enhance asset quality, or improve overall financial stability.
• Investor Access and Restrictions: The securities issued under this programme will only be offered to institutional and accredited investors in Singapore, in line with regulatory requirements. Retail investors will not have direct access to these offerings.
• Programme Flexibility: The multicurrency nature of the programme allows KIT to tap both domestic and international debt markets, optimizing funding sources and potentially reducing borrowing costs.
• Listing and Trading: While applications have been made to list the securities on the SGX-ST, admission and listing are not guaranteed and depend on SGX-ST’s approval process. The SGX-ST also makes clear that it does not vouch for the accuracy of statements or the merits of the securities.
• Risk Considerations: Unitholders should note that the value of KIT units and the income from them may fluctuate. Investments in units are not guaranteed, and unitholders cannot redeem their units with the trustee-manager directly but may only trade them on the SGX-ST. Past performance is not indicative of future results.

Important Notice for Shareholders

The upsize of the multicurrency debt issuance programme could be price sensitive as it signals the trust’s plans for potential expansion, refinancing, or capital allocation. Investors should monitor further announcements regarding specific issuances, use of proceeds, and any related asset acquisitions or financial commitments.

The announcement also serves as a reminder that investing in KIT carries inherent risks, including the possible loss of principal. Investors should assess their risk tolerance and investment horizon accordingly.

Disclaimer

This article is for informational purposes only and does not constitute an offer, invitation, or solicitation to acquire, purchase, or subscribe for units or securities of Keppel Infrastructure Trust. The value of units and income from them may fall as well as rise, and past performance is not indicative of future results. Unitholders have no right to redeem their units from the trustee-manager while listed. Please consult your financial advisor before making investment decisions.

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