Keppel Infrastructure Trust bags $50m revolving loan facility

KIT will pay all outstanding loans under the facility should two events occur.

Keppel Infrastructure Trust (KIT) has obtained a $50m multicurrency revolving loan facility, its trustee-manager,  Keppel Infrastructure Fund Management (KIFM) announced.

Under the conditions of the facility, KIT will need to pay all outstanding loans under the loan facility immediately if KIFM ceases to be a wholly-owned –- whether directly or indirectly –- by Keppel Capital Holdings (KCHPL) and/or Keppel Corporation Limited  (KCL) and an entity wholly owned by KCHPL and/or KCL is not appointed as a replacement or substitute trustee-manager of KIT.

KIT will also have to pay outstanding loans immediately should KIFM resign, retire, be removed or cease to be or is unable to continue to act as trustee-manager of KIT and an entity wholly-owned by KCHPL and/or KCL is not appointed as a replacement or substitute trustee-manager of KIT.

If one or both of the above-mentioned events occur, and if such occurrence would cause a cross-default under other borrowings of KIT and its subsidiaries, the aggregate level of facilities that may be affected is, as of the date of 11 December, approximately $1.08b, excluding interest and fees,