The manager of Keppel Infrastructure Trust (KIT) says that the trust has obtained a loan facility of $75 million. It has not specified what the proceeds will be used for.
The loan facility comes with conditions in which if not met, KIT will be required to pay all outstanding loans under it.
These include if the manager ceases to be the manager of KIT, and if a replacement or substitute is appointed in accordance with the terms of the deed of trust constitution KIT and applicable law prior to the cessation.
Assuming the occurrence of such events, the aggregate level of facilities affected is $1.385 billion.
Units in KIT closed 0.5 cents higher or 1.124% up at 45 cents on Sept 2.
