Rig builder Keppel is ready to rescue KrisEnergy by subscribing to an bond offer from the debt-laden oil and gas explorer, a news report said.
Keppel said it would subscribe to an up to $101 million preferential offering of zero-coupon secured notes, Reuters reported.
That would potentially raise Keppel’s stake in KrisEnergy to 67.3% from 40%, according to the report.