KUALA LUMPUR (Dec 12): Yinson Holdings Bhd’s Singapore unit Yinson Production Offshore Pte Ltd announced in a statement on Tuesday that it has sealed the deal on a five-year corporate facility loan of up to US$500 million (RM2.34 billion).

According to Yinson Production in the statement, the Singapore branch of Natixis will serve as the coordinator, as well as the mandated lead arranger, and bookrunner (MLAB) of the facility loan, together with Affin Bank Bhd, AmInvestment Bank Bhd, CIMB Islamic Bank Bhd, ING Bank NV’s Singapore branch, and United Overseas Bank Ltd (UOB).  

The company added that a general syndication process is anticipated to commence in January 2024, by which the facility loan is earmarked for refinancing certain existing debt, as well as for general corporate purposes.  

Beside this, Yinson Production said a portion of the facility loan will also be allocated for the company’s green initiatives toward innovating and introducing cutting-edge technologies in reducing emissions and being the frontrunner in decarbonising the floating production storage and offloading (FPSO) industry.  

“This (facility loan) is the first of its kind raised by Yinson Production and underpins the banks’ confidence in Yinson Production as a leading independent owner and operator of FPSOs worldwide, as well as [the banks’ confidence in] the robust fundamentals and attractiveness of the FPSO industry in the global energy infrastructure space,” the company said.  

Yinson Production’s chief financial officer Markus Wenker said the company is pleased to have successfully completed the transaction with strong support from the banks.  

“This is the first corporate loan raised by Yinson Production following the reorganisation and decentralisation of [the] Yinson Group earlier this year, and showcases our ability to attract financing along the entire capital structure, utilising Yinson Production’s balance sheet,” he added.