Sapura Energy secures RM10.3bil debt refinancing

KUALA LUMPUR: Sapura Energy Bhd’s wholly owned subsidiary, Sapura TMC Sdn Bhd has executed multi-currency financing facilities agreements (MCF 2021) to refinance its existing borrowings.

In a statement Tuesday, Sapura Energy said the MCF 2021, signed with a consortium of Malaysian, regional and international banks, provided for financing with a combined value of approximately RM10.3 bil, for a tenure of seven years.

It includes a conventional facility agreement and a further issuance of unrated sukuk murabahah under the multi-currency sukuk programme announced in 2015.

Sapura Energy said the planned refinancing was part of the group’s capital management program to lengthen the maturity of its debt.

“The refinancing exercise and previously announced RM1.2bil working capital provides us with timely financial headroom in a recovering energy market,” said CEO Datuk Mohd Anuar Taib.

“This will allow us to continue our track record of winning new oil & gas

contracts; and explore emerging opportunities in the renewable energy sector,” he said.

He also expressed gratitude to the coordinating banks, Maybank and CIMB Bank; and the participating banks, namely Maybank, CIMB Bank, RHB Bank, AmBank, EXIM Bank Malaysia, United Overseas Bank, ING Bank, Sumitomo Mitsui Banking Corporation, Standard Chartered Bank and First Abu

Dhabi Bank; for their continued support to Sapura Energy.

The group recently announced global contract wins of RM1.85bil, demonstrating its resilience in capturing opportunities in addressable markets and delivering its promises to clients and stakeholders, Sapura Energy said.

Article type: metered
User Type: anonymous web
User Status:
Campaign ID: 46
Cxense type: free
User access status: 3

Next In Business News

World Economic Forum cancels 2021 annual meeting in Singapore
Quick take: Pesona Metro down despite RM319mil contract win
Bursa ekes out slight gains
Cautiously optimistic on MBM Resources despite near-term volatility
Quick take: Jewellers continue to shine
Trading ideas: Pestech, Pesona, Evergreen, Ta Ann, MGB
D&O poised for earnings record in FY21
Positive on Pestech's RTS rail electrification contract
Amazon in talks to buy MGM movie studio
Oil climbs 1% on economic recovery hopes despite fresh Asian restrictions

Stories You'll Enjoy