Keppel Infrastructure Trust clinches $50m loan facility

The facility is a multi-currency money market line.

Keppel Infrastructure Trust has secured a $50 million multi-currency money market line on June 27, its trustee-manager Keppel Infrastructure Fund Management said in a statement.

Under the terms and conditions of the loan facility deal, the lender may cancel the total commitments and/or declare that all or part of the outstanding loans to be payable if KIFM ceases to be a wholly-owned subsidiary of Keppel Corporation.

If KIFM ceases to be a subsidiary of Keppel and causes a cross default under the other borrowings of KIT, the aggregate level of facilities which may be affected is estimated to be approximately $960 million.

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