Stoneweg Europe Stapled Trust (SGX:SET) invested an additional 50 million euros in AiOnX, a private European data center platform, via a mandatory convertible loan, according to a Thursday filing with the Singapore Exchange.
The coupon payment for the loan is 7.25% on a semi-annual basis, with first payment due six months from closing.
Meanwhile, the coupon represents around 2% of annualized DPS accretion.
The investment is part of the trust's strategy to cater to European data center demand.
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