Keppel Infrastructure Trust bags $75m credit facility

The facility sets two conditions.

Keppel Infrastructure Trust (KIT) obtained a $75m revolving credit facility.

Under the facility terms, KIT must repay all outstanding loans if its trustee-manager is no longer wholly owned by Keppel Capital Holdings (KCHPL) and/or Keppel (KL), and a replacement trustee-manager also wholly owned by KCHPL and/or KL is not appointed per the trust deed and applicable law.

The facility also provides that should the trustee-manager step down or cannot serve, KIT must appoint a wholly-owned KCHPL or KL entity under its trust deed and legal terms.

If any of these events occur, requiring KIT to repay all outstanding loans under the facility, it could trigger a cross-default on other borrowings, affecting approximately $1.3b in facilities, excluding interest and fees.

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Keppel Infrastructure Trust

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