Keppel Infrastructure Trust locks $100m loan agreement

It also secured $75.4m in uncommitted revolving credit and bank guarantee facilities.

Keppel Infrastructure Fund Management (KIFM), the trustee-manager of Keppel Infrastructure Trust (KIT), said in a bourse filing that it has obtained a $100m loan facility.

Moreover, it has also secured $75.4m (EUR50m) in uncommitted revolving credit and bankers’ guarantee facilities.

Under the facility terms, loans may become immediately due if KIFM is no longer wholly-owned, directly or indirectly, by Keppel Capital Holdings (KCHPL) or Keppel Ltd (KL), and no wholly-owned Keppel entity is appointed as replacement trustee-manager in accordance with the trust deed and applicable law.

The same applies if KIFM resigns, is removed, or is otherwise unable to act as trustee-manager without such a replacement being appointed.

Any such event would trigger cross-default provisions under other borrowings of KIT and its subsidiaries.

As of the announcement date, facilities that could be affected total about $1.56b, excluding interest and fees.

($1 = EUR0.66)

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