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KrisEnergy extends credit facility

Published: 13:55 29 Mar 2018 BST

oil and gas operations
The facility could be expanded to US$200mln

KrisEnergy Ltd (SGX:SK3) has extended its revolving credit facility by two years to June 2020.

The company said there were no other changes to the credit facility, which could be expanded up to US$200mln.

READ: KrisEnergy boosted by significant rise in oil prices

It is secured against the group’s producing assets in the Gulf of Thailand and in Bangladesh, as well as its development assets in the Gulf of Thailand and in Indonesia.

“Given the continuing uncertainties in the macroeconomic environment and the potential impact to our cash flow and liquidity, we are very pleased to have extended our facility with no change to terms at a time when we are embarking on critical development projects to enhance the company’s future growth potential,” said Kiran Raj, KrisEnergy chief financial officer.

“I would like to thank DBS for its continued support since 2016. We also continue to evaluate a range of options in connection with the company’s capital structure with a view to strengthen our balance sheet as we progress our developments in the Gulf of Thailand.”

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on 25/2/16