KUALA LUMPUR: Integrated offshore services provider, YINSON HOLDINGS BHD [] has secured US$105 million (RM334.2 million) for its floating storage and off-loading (FSO) facility.
It said on Tuesday, Sept 27 that it had signed two loan facility agreements with UOB Group and Oversea-Chinese Banking Corporation Ltd in Singapore for a total loan amount of US$105 million.
'The fund raising exercise is to fund the FSO of Yinson's joint venture company; PTSC South East Asia Pte Ltd, that was incorporated in Singapore,' it said.
The joint venture company will be 49% owned by Yinson and 51% owned by PetroVietnam Technical Services Corporation (PTSC).
To recap, Yinson had on June 29, secured a bareboat charter contract to provide a FSO worth US$331 million (RM1.01 billion) from PTSC for a firm period of 10 years with the options to extend for another 10 years. Both parties have agreed to jointly provide the FSO on a bareboat charter basis to PTSC and the latter will charter it onward to Bien Dong Petroleum Operating Company.
It said on Tuesday, Sept 27 that it had signed two loan facility agreements with UOB Group and Oversea-Chinese Banking Corporation Ltd in Singapore for a total loan amount of US$105 million.
'The fund raising exercise is to fund the FSO of Yinson's joint venture company; PTSC South East Asia Pte Ltd, that was incorporated in Singapore,' it said.
The joint venture company will be 49% owned by Yinson and 51% owned by PetroVietnam Technical Services Corporation (PTSC).
To recap, Yinson had on June 29, secured a bareboat charter contract to provide a FSO worth US$331 million (RM1.01 billion) from PTSC for a firm period of 10 years with the options to extend for another 10 years. Both parties have agreed to jointly provide the FSO on a bareboat charter basis to PTSC and the latter will charter it onward to Bien Dong Petroleum Operating Company.
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