KrisEnergy has transferred its revolving credit facility (RCF) to DBS Bank Ltd, who become the sole lender for the facility.

The previous requirements and obligations on the facility have consequently been dropped &ndash these included &ldquo repayment and cancellation of US$55m of the facility by 29 July 2016, and raising minimum new capital of US$100m and US$50m (both amounts being net of costs) by 30 June 2016 and 30 November 2016.&rdquo

Kris Energy has said the restructure will help secure the company&rsquo s &ldquo capital structure on a long-term footing and provide maximum flexibility to access a range of funding options&rdquo .

The upstream oil and gas company&rsquo s facility is secured by its assets in the Gulf of Thailand and Bangladesh.

It has a stake in four offshore petroleum &lsquo contract areas&rsquo in the Gulf of Thailand which are all either &lsquo producing or nearing production&rsquo , and one onshore contract area in Bangladesh which is producing or nearing production, and one area which is at the seminal &lsquo exploration&rsquo stage.      

The company has also used its interests in Indonesia (which comprise of eight contract areas which are at various stages in production) as further security for the facility.