Brief: Keppel Corp Says M1 & Keppel DC REIT Sign Term Sheet For Investment In M1 Network Assets

KEPPEL DC REIT

28/04/2021 10:36

April 28 (Reuters) - Keppel Corp: 
    * M1 AND KEPPEL DC REIT SIGN NON-BINDING TERM SHEET FOR
PROPOSED
INVESTMENT IN M1 NETWORK ASSETS
    * SPV WILL ACQUIRE NETWORK ASSETS FROM M1 FOR S$580 MILLION
    * TERM SHEET FOR PROPOSED INVESTMENT BY KEPPEL DC REIT INTO
A
SPECIAL PURPOSE VEHICLE (SPV), WHICH IS INTENDED TO BE
ESTABLISHED BY M1
    * M1 WILL CONTINUE TO RETAIN 100% OF ORDINARY SHARES IN SPV
    * CONSIDERATION FOR ACQUISITION OF NETWORK ASSETS WILL BE
FUNDED
BY SPV THROUGH EXTERNAL FINANCING OF APPROXIMATELY S$493 MILLION
    * SPV IS INTENDED TO BE ESTABLISHED BY M1 TO OWN AND OPERATE
M1'S
CURRENT MOBILE, FIXED AND FIBRE ASSETS
    * CONSIDERATION FOR ACQUISITION OF NETWORK ASSETS WILL BE
FUNDED
BY SPV THROUGH KEPPEL DC REIT'S INVESTMENT OF ABOUT S$87 MILLION
    * ALSO INTENDED FOR SPV TO ENTER INTO A 15-YEAR NETWORK
SERVICE
AGREEMENT WITH M1

Source text for Eikon:  urn:newsml:reuters.com:*:nSNZ8gsXG
Further company coverage:  KEPE.SI 

 (Reuters.Briefs@thomsonreuters.com)