Rajah & Tann Singapore acted for Citigroup Global Markets Singapore Pte. Ltd. (“Citi”), DBS Bank Ltd. (“DBS”), The Hongkong and Shanghai Banking Corporation Limited, Singapore Branch (“HSBC”), Oversea-Chinese Banking Corporation Limited (“OCBC”) and United Overseas Bank Limited (“UOB”) in relation to an approximately S$300 million equity fund raising undertaken by Keppel Infrastructure Trust for the partial repayment of two bridge facilities of up to S$590 million which were taken out to, and/or to replenish working capital and internal cash which were used to, initially fund (a) its investments, as part of a joint venture company, in a diversified portfolio of operational and pipeline onshore wind projects across Norway, Sweden and the United Kingdom sponsored by Fred. Olsen Renewables AS; (b) its investment, as part of a joint venture company, in three operating onshore wind farms in Sweden and Norway; and (c) in its acquisition, as part of a joint venture company, of Eco Management Korea Holdings Co., the leading integrated waste management player in South Korea.
Citi, DBS, HSBC, OCBC and UOB were appointed as the Joint Lead Managers, Bookrunners and Underwriters in relation to the equity fund raising which comprised (a) a private placement of 383,648,000 new units at an issue price of S$0.477 per new unit to raise approximately S$183.0 million; and (b) a preferential offering of 249,612,693 new units on the basis of 5 new units for every 100 existing units at an issue price of S$0.467 per new unit to raise approximately S$116.6 million.
The deal was led by Partners Raymond Tong (Singapore), Jasselyn Seet (Singapore), Yon See Ting (Malaysia), Looi Zhi Min (Malaysia) and Dussadee Rattanopas (Thailand). They were supported by Joseph Luen (Singapore), Celine Tan (Malaysia) and Jantapa Erjongmanee (Thailand).
Read more about the matter in the links below:
https://www.dealstreetasia.com/stories/keppel-infrastructure-trust-equity-funding-339555
