Monday, July 18, 2016

Keppel Infra Trust 2QFY16

DPU                                0.93 cents
Distributable CF             $38m (City Gas - $12.1m, KMC - $11.2m, Concessions - $17.4m, Others - ($2.6m) )
NAV                               32.4 cents
Gearing                           36%    (25% without Basslink)

Total Assets                    $4,061m
Total Liabilities              $2,596m
Total Borrowings           $1,706m ($1007m without Basslink)
Net Debt                         $1,455m ($799m without Basslink)
Cash                                $251m
Net Debt/EBITDA          6.1X (3.8X without Basslink)

Basslink loans are non-recourse and currently Basslink CF are used to pay down debt and not for DPU. As a result of an outage earlier this year, currently the borrower is unable to meet the interest coverage ratio under the agreed Project Financing.Thus, as a condition of the waiver given under this default event, the borrower is  obliged to agree with the Financiers on a Long Tem Financing Plan  to be announced at a later date.


1 comment:

  1. eToro is the best forex broker for new and professional traders.

    ReplyDelete