Keppel REIT posts 22% higher distributable income of $51.6 mil for 1Q2021

The manager of Keppel REIT has posted distributable income for the 1QFY2021 ended March of $51.6 million, 22% higher than distributable income of $42.3 million in the corresponding quarter the year before.

The figure includes the advanced distribution of $32.2 million or 0.94 cents per unit for the period from Jan 1 to Feb 28 that was paid to eligible unitholders on March 31 in connection with the private placement launched on Feb 18.

The manager, on Feb 18, launched a $270.0 million private placement that was around 4.6 times covered. Some 238.9 million new units were issued on March 1.