The manager of SGX-listed Keppel Infrastructure Trust has launched a capital raising targetting at least S$240m (€164m).

Keppel Infrastructure Fund Management said proceeds from the private placement and a non-renounceable preferential offering would be used to pay down, among other things, bridging facilities for its recent acquisitions of European wind assets and a South Korean waste management business.

These acquisitions, costing a total of about S$721m, were paid for by a combination of internal funds and external borrowings, including bridge facilities of about S$579.5m.

The manager said that assuming the gross proceeds of S$240m were raised from the equity fundraising, it intended to use about S$233.5m for partial repayment of the bridge facilities and the balance on other costs involved in the transactions.

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