Keppel Infrastructure Trust reallocates $3.7m to repay existing debts

This is because fees for its recent private placement were lower than expected.

Keppel Infrastructure Trust reallocated $3.7m to repay existing debts from its recent $200m private placement raise.

According to the group, this was because the fees and expenses incurred by the Keppel Infrastructure Trust in connection with the placement are lower than expected and certain fees and expenses incurred were not due for payment as at the date of the announcement.

Keppel Infrastructure Trust decided that it is financially prudent to repay existing indebtedness, inclusive of outstanding amounts drawn down from the revolving credit facility (RCF), and subsequently draw down the RCF to pay the outstanding fees and expenses incurred by the group in connection with the placement when they become due.

Keppel Infrastructure Trust initially expected fees and expenses from the placement to be worth around $5.4m, with the group paying $1.7m, according to a bourse filing.

The group said it has disbursed all payment from the private placement.