Basslink, on May 27, announced that it has arranged with its lending syndicate for a three-month extension for the maturity date of the financing arrangements currently in place for the Basslink Interconnector.
In a separate filing, Keppel Infrastructure Trust (KIT) said that the update is not expected to affect the group materially for the financial year ending Dec 31 as there is no contractual recourse to KIT under the project financing.
SEE:KIT's Basslink to fork out A$38.5 mil in damages; A$31 mil in unpaid fees not recoverable
KIT also does not rely on Basslink’s cash flows for distributions.
Units in KIT closed 0.5 cent higher or 0.9% up at 55 cents on May 27.
