Singapore’s Keppel Infrastructure obtains S$700 million sustainable loan

Chicago, June 23 – Keppel Infrastructure Fund Management Pte. Ltd. said that subsidiary Keppel Merlimau Cogen Pte Ltd. has obtained a S$700 million sustainability-linked revolving loan dated June 23, according to an announcement.

The loan was issued from DBS Bank and OCBC Bank as joint lenders, with Keppel Energy Pte. Ltd. listed as co-borrower.

The interest on the loan is designed to incentivize KMC to produce energy efficiently in the market and support its continued commitment to long-term sustainability and carbon efficient performance.

Specifically, the loan is linked to carbon emission targets from the Keppel Merlimau Cogen plant.

Proceeds will be used to refinance the subsidiary’s existing $700 million loan due June 30.

The new facility amortizes with 50% being repaid between June 2023 and June 2026, and a 50% balloon payment due at maturity on June 30, 2027.

Keppel is a Singapore business that invests in a portfolio of infrastructure assets.

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