Keppel DC REIT is planning a major expansion as it plans to raise S$473.8 millions of equity to fund two acquisitions in Singapore:
- A 99% stake in Keppel DC Singapore 4 (S$384.9 million)
- 1-Net North Data Centre (S$200.2)
The proposed acquisitions are expected to be highly accretive to Keppel DC REIT's Distribution per Unit (DPU). When completed, the REIT's assets under management will grow by 30.7% to $2.58 billion, comprising 17 data centres in key data centre hubs globally, spanning an aggregate lettable area of approximately 1,410,497 sq ft.
A combination of debt and S$473.8 million in private placement and preferential offering will be used. Aggregate leverage ratio is expected to decrease from 31.9% to 30.3%.