Favorite Links

Saturday, December 29, 2012

Yinson’s 49%-owned PTSC raises RM918mil loans to convert FPSO


KUALA LUMPUR: Yinson Holdings Bhd's 49%-owned PTSC Asia Pacific Pte Ltd has raised up to US$300mil (RM918mil) to fund the conversion of its floating production storage and offloading system (FPSO).
Yinson said PTSC, in which PetroVietnam Technical Services Corpowns the other 51%, had on Friday completed the signing of a senior secured loan facility with Singapore's Oversea-Chinese Banking Corporation Ltd and United Overseas Bank Ltd.
The conversion of the FPSO was necessary under its engineering, procurement, construction and installation contract and a bareboat charter contract, valued at US$733mil (RM2.21bil).
Yinson said that upon delivery of the FPSO, the vessel would be chartered to Lam Son Joint Operating Co.
Lam Son is jointly owned by PetroVietnam Exploration Production andPetronas Carigali Overseas Sdn Bhd.

No comments:

Post a Comment