Keppel, which also owns a 40 per cent stake in KrisEnergy, said in a filing early Thursday that the extension of the contract will support efforts by the latter's management to effect a consensual debt restructuring plan and provide liquidity for its ongoing expenses.
The DBS RCF, and consequently Keppel's economic exposure in it, has a comprehensive first-ranking security package over the assets of the KrisEnergy group. In an exchange filing late Wednesday night, KrisEnergy said that the RCF's additional amendments, to become effective after its financial restructuring, do not include modifications to the existing commitment amount and interest provisions.
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