Keppel Infrastructure Trust secures $400m loan facility

Immediate repayment will be required if the trustee-manager's ownership shifts from its current parents, KCHPL and KL.

Keppel Infrastructure Trust (KIT) has successfully obtained a $400m loan facility on 21 May, the Board of Directors of Keppel Infrastructure Fund Management Pte. Ltd. (KIFM), acting as the trustee-manager of KIT, announced.

Under the terms, if the trustee-manager no longer be wholly owned by Keppel Capital Holdings Pte. Ltd. (KCHPL) and/or Keppel Ltd. (KL), and if an entity not wholly owned by KCHPL and/or KL is not appointed as a replacement trustee-manager of KIT, all outstanding loans under the facility must be repaid immediately. This scenario is referred to as the "Change of Control Event”.

As of now, no such event has occurred. However, should it happen, it may affect approximately $1,535m in facilities due to potential cross-defaults.