Keppel Limited

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Keppel O&M

As mentioned in the announcement dated 5 June 2020, three of the rigs which have been delivered to Borr Drilling remain partially financed by Keppel O&M through a seller’s credit arrangement. The Second Framework Deed further provides that in respect of such seller’s credit arrangement 
(a) interest accruing up to the third anniversary of the drawdown date be deferred to May 2023 
(b) interest accruing from the third to the fourth anniversary of the drawdown date be payable on the fourth anniversary of the drawdown date and 
© the final maturity date be deferred by one year.


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https://www.oedigital.com/news/484885-ke...g-business
Keppel O&M will exit the offshore rig building business, after completing the existing rigs under construction. In line with the Group’s more disciplined approach towards capital allocation, Keppel O&M will not undertake any new project requiring large upfront capex or without milestone payments. It will also progressively exit low value-adding repairs and other activities with low bottom-line contribution, and focus on higher value-adding work

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