KEPPEL CORPORATION LIMITED
BN4.SI
Keppel Corporation - KrisEnergy secures noteholders' approval
- KrisEnergy has obtained the approval of the holders of its existing bonds under the consent solicitation exercise, and as such Keppel Corporation and the First Reserve funds have given irrevocable undertakings in favour of the preferential offering resolution.
- Recall that Keppel Corp will subscribe up to S$140m preferential offering of zero coupon secured notes with warrants. Currently the First Reserve funds hold about 37.47% of KrisEnergy shares and Keppel Corp holds about 39.99% shares.
- Maintain HOLD with S$5.71 fair value estimate on Keppel Corp, though recent news of agreed production cuts by OPEC and non-OPEC countries would provide support to oil and gas related counters.
Low Pei Han CFA
OCBC Investment
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http://www.ocbcresearch.com/
2016-12-12
OCBC Investment
SGX Stock
Analyst Report
5.710
Same
5.710
