Keppel Infrastructure Trust (KIT) has entered into a $75 million loan facility, according to an Oct 29 bourse filing.
The facility contains conditions where a mandatory prepayment event may occur if the trustee-manager of KIT resigns or is removed as a manager and if the replacement manager is not appointed in accordance with the terms of the trust deed constituting MPACT.
Additionally, the conditions include the event that the replacement of the trustee-manager is not a direct or indirect wholly-owned subsidiary of Keppel Capital Holdings.
Should any prepayment event occur, the aggregate level of the facility and existing outstanding borrowing of KIT that may be affected stands at approximately $1,255 million.
Units in Keppel Infrastructure Trust A7RU closed at 45 cents on Oct 28.
