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KIT
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investshare
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27-Jul-2024 11:53
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It is one off, given out as a special payment, no more next year.
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Alignment
Elite |
27-Jul-2024 10:24
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I read it all again in light of your comments - its all clearer now thank you. As you say it reflects at least in part a refi which increases the debt level. But the extension which facilitated this has increased the asset value so the increase in debt and extension of the amortisation profile makes sense. The 11% DPU increase is also not a one off (in that it will not fall away after a year) - in fact it is permanent, with higher ongoing levels of cash being made available from KMC cashflows.
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prophetjul
Master |
27-Jul-2024 07:40
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Obviously a KIT shortie. Better if you criticise the fresh performance of KIT?
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investshare
Supreme |
26-Jul-2024 23:28
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In layman term it is called max out the credit limit.
To say it has positive impact of 11% dpu is misleading because it is one time off.
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SDEXXXXD
Veteran |
26-Jul-2024 18:32
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Keppel Infrastructure Trust delivered
1.95 cents DPU for 1H 2024 Results Highlights Continued portfolio expansion with the completion of Ventura acquisition and first three phases of the German Solar Portfolio driving growth in assets under management (AUM) to $8.8 billion1 Resumption of contributions from Keppel Merlimau Cogen (KMC) plant and new acquisitions completed in 1H 2024 contributed $26.9 million or 17.8% of Asset Distributable Income DPU of 1.95 cents supported by stable underlying operational performance, with KIT?s portfolio well- positioned against inflation and higher energy prices due to cost pass through mechanisms and availability-based revenue models Completed the KMC capital restructuring with a $612.5 million sustainability-linked loan, demonstrating the Trustee-Manager?s commitment to long term sustainability |
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Alignment
Elite |
15-Jul-2024 14:01
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Would anyone please be able to explain to me with respect to the " KMC CTA extension and capital restructuring" referenced in various recent announcments in the past few months (for instance in the investor presentation on 28 May 2024) why this appears to have such a positive impact for KIT? Pro-forma DPU is said to increase 11% as a result. I read the slides but don' t really understand the underlying situation. Is this like a free gift for KIT? In that it was locked into a really bad deal before and it is now free of it? | ||||
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SDEXXXXD
Veteran |
13-Jul-2024 15:51
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Half yearly
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duran123
Member |
13-Jul-2024 12:45
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Anyone knows what' s the dividend policy for KIT now? Half-yearly? Used to be quarterly. | ||||
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Alignment
Elite |
03-Jul-2024 18:49
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This loan is not being used to buy Ventura. The company has already raised a term loan for that purpose.
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chengwh1
Elite |
02-Jul-2024 17:14
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Looked-up an earlier article :-
Keppel Infrastructure Trust plans to raise up to $500m to buy stake in Australia&rsquo s Ventura: Sources
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Joelton ( Date: 29-Jun-2024 13:12) Posted:
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Elite
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Loans to corporates where the corporate is controlled by a controlling shareholder in general have a change of control clause which says that if the controlling shareholder sells down such that it is no longer the controlling shareholder then the loan becomes immediately payable. It is not a reflection of the confidence in the underlying assets, but a statement that such a development is such a significant change in affairs that it gives the lender the optionality to call back its loan.
This clause you point out is the equivalent of that, because Keppel is the manager of KIT. Pretty much every single loan to every REIT on SGX will have an equivalent clause.
investshare ( Date: 29-Jun-2024 21:40) Posted:
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The conditions of the new loan stipulate that it would become immediately repayable if Keppel Infrastructure Fund Management stops being the trustee-manager of Keppel Infrastructure Trust, or ceases to be wholly owned by Keppel Capital Holdings and/or Keppel Limited : BN4 -0.77% and is not replaced by another wholly owned subsidiary of either company.
Joelton ( Date: 29-Jun-2024 13:12) Posted:
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Keppel Infrastructure Trust obtains a S$50 million loan
Its trustee-manager does not disclose the purpose of the credit facility
KEPPEL : A7RU +1.08%Infrastructure Trust : A7RU +1.08% has obtained a loan of S$50 million, its trustee-manager Keppel Infrastructure Fund Management said on Friday (Jun 28).
Unlike the sustainability-linked loan of S$612.5 million that it took out to refinance another loan, announced on Tuesday, Keppel Infrastructure Fund Management did not disclose the purpose of this multi-currency revolving credit facility.
The conditions of the new loan stipulate that it would become immediately repayable if Keppel Infrastructure Fund Management stops being the trustee-manager of Keppel Infrastructure Trust, or ceases to be wholly owned by Keppel Capital Holdings and/or Keppel Limited : BN4 -0.77% and is not replaced by another wholly owned subsidiary of either company.
Such prepayment would lead to a cross-default under the other borrowings of the trust and its subsidiaries, and may affect an aggregate level of facilities of about S$1.6 billion (excluding interest and fees).
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EricNat ( Date: 21-Jun-2024 09:16) Posted:
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Supreme
Yells: "Cast all our anxieties on Jesus for He cares for us"
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prophetjul ( Date: 09-Jun-2024 09:09) Posted:
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Yells: "Cast all our anxieties on Jesus for He cares for us"
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▼
HOME NEWSROOM
Latest Newsroom
03 Jun 2024
Keppel Infrastructure Trust completes acquisition of Ventura
Keppel Infrastructure Fund Management Pte. Ltd. (KIFM), as Trustee-Manager of Keppel Infrastructure Trust (KIT), is pleased announce that it has completed its acquisition of approximately 97.68%[1] interest in Ventura Motors Pty. Ltd. (Ventura).
Ventura provides essential transport services and has the largest market share of public bus services in Victoria, operating approximately 530 routes out of Melbourne?s ~1,200 total routes. Andrew Cornwall, the current Managing Director of Ventura remains as its Chief Executive Officer and retains the rest of the minority stake in the business.
This acquisition has been funded by a term loan facility. With the completion of the acquisition, KIT?s financial position remains strong, maintaining sufficient headroom over its financial covenant thresholds.
Mr Kevin Neo, CEO of KIFM, said, ?The addition of Ventura to KIT?s portfolio will help to bolster recurring and predictable cash flows for the Trust. As the new owner, KIT will further the successes of the Ventura team as the business enters its next phase of growth.
?Tapping on Keppel and KIT?s wider experience in designing, executing and managing EV charging solutions, we will work closely with Andrew and the management team to accelerate Ventura?s electrification program to support the Victorian Government?s drive for zero-emission bus services.?
KIT?s assets under management will grow from S$8.1 billion as at 2 January 2024 to approximately S$8.8 billion[2] upon the completion of the acquisition.
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