Brief: Ks Energy Clarifies Regarding Demand From OCBC Bank To Co
17/08/2020 15:16
Aug 17 (Reuters) - KS Energy Ltd KSTL.SI :
* KS ENERGY LTD- CLARIFIES DEMAND FROM OCBC BANK TO CO FOR A
TERM
LOAN OWED BY KS DRILLING PTE LTD IS FOR AN AMOUNT LESS THAN
US$230 MILLIO
* KS ENERGY LTD- PRESENTLY SEEKING LEGAL ADVICE AND WILL
ENGAGE
OCBC TO REMEDY SITUATION
* KS ENERGY - DEMANDS CO RECEIVED FROM OCBC ARE FOR
GUARANTEES
ALLEGEDLY GIVEN FOR US$150 MILLION OF KSDL'S TERM LOAN
* KS ENERGY - TERM LOAN OWED BY KSDL ARE SECURED BY VARIOUS
ASSETS INCLUDING KSDL'S JACK-UP AND LAND RIGS
Source text for Eikon: ID:nSNZ6YZP2Z
Further company coverage: KSTL.SI
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