March 15, 2019 / 4:05 AM / 7 months ago

UPDATE 1-Keppel Infrastructure raises $370 mln in biggest funding on Singapore bourse this year

(Adds details on issuance)

March 15 (Reuters) - Keppel Infrastructure Trust said on Friday it had increased the size of its equity fund to S$500.8 million ($369.65 million), the biggest by any company on Singapore Exchange Ltd so far this year.

The business trust said it increased the size by about S$50 million in a placement and a renounceable underwritten preferential offering of new units, citing strong demand.

Keppel Infrastructure’s manager had announced raising of S$450 million in a regulatory filing on Thursday.

The trust offers investment in core infrastructure businesses, including waste treatment, water production, power production and transmission, piped gas production retailing and telecommunications.

Credit Suisse, DBS Bank, HSBC and United Overseas Bank are the joint lead managers, bookrunners and underwriters for the issue. ($1 = 1.3548 Singapore dollars) (Reporting by Aby Jose Koilparambil in Bengaluru; Editing by Subhranshu Sahu)

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