KUALA LUMPUR: Yinson Holdings Bhd
’s unit, Yinson Production has finalised a limited recourse term loan facility, securing up to US$1.3bil.
This funding is designated for both pre-and post-delivery financing for the Agogo floating storage production and offloading vessels (FPSO).
In a statement, Yinson said the financing was provided by a consortium of 13 lenders, including international banks and institutional investors, and will be utilised over the course of the construction of the FPSO.
“The financing comprises three pari-passu secured tranches with staggered maturities of up to 10 years post-delivery of the FPSO. Subject to satisfaction of certain conditions, the financing will become non-recourse post-delivery of the FPSO,” it said.
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