Singapore’s KIT to raise $333 million through share offering

Singapore-based Keppel Infrastructure Trust (KIT), a unit of property to infrastructure company Keppel Corp., plans to secure 450 million Singaporean dollars ($333 million) via a placement and a non-renounceable underwritten preferential offering of new units.

KIT said that around $440.3 million of the proceeds will be used to partially repay a credit facility taken for the $546.2 million purchase of Ixom HoldCo.

The remaining $9.7 million will go to related fees and expenses. Keppel Infrastructure’s unitholders approved the equity raising exercise.

Financial services companies, Credit Suisse (Singapore), DBS Bank, HSBC (Singapore) and United Overseas Bank Ltd., have been appointed as joint lead managers, bookrunners and underwriters.