Keppel Infrastructure obtains loan facility worth $75m

It was not specified where the loan proceeds will be used.

Keppel Infrastructure Trust Fund Management, in its capacity as the manager of Keppel Infrastructure Trust (KIT), has obtained a loan facility of $75m.  It was not disclosed in the bourse filing what the loan will be used for.

Certain conditions for the loan facility were noted in a bourse filing, and if they are not met, KIT will be required to pay all outstanding loans under it.

These conditions include if the manager resigns, retires, is removed, ceases to be, or is unable to continue to act as trustee manager of KIT, or ceases to be wholly owned (directly or indirectly) by Keppel Capital Holdings Pte. Ltd. and/or Keppel Ltd.

Such an occurrence would cause a cross-default under other borrowings of KIT and its subsidiaries; the aggregate level of facilities is $1.385b, excluding interest and fees.