Sapura Energy refinances RM10.3bil of debt


Sapura Energy Group chief executive officer Datuk Mohd Anuar Taib (pic) said the refinancing exercise coupled with RM1.2bil working capital would provide the group financial headroom in a recovery market.

PETALING JAYA: Sapura Energy has executed multi-currency financing facility agreements to refinance its existing borrowings, securing up to RM10.3bil for a tenure of seven years.

In a statement yesterday, Sapura said the group’s multi-currency financing facility agreements were signed with a consortium of Malaysian, regional and international banks.

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

“The planned refinancing is part of the group’s capital management programme to lengthen the maturity of its debt, ” it added.

Sapura Energy Group chief executive officer Datuk Mohd Anuar Taib said the refinancing exercise coupled with RM1.2bil working capital would provide the group financial headroom in a recovery market.

“This will allow us to continue our track record of winning new oil and gas contracts as well as explore emerging opportunities in the renewable energy sector, ” he added.

Moving forward, Sapura Energy will continue to execute its global projects in the current order book.

Recently, the group secured global contracts worth RM1.85bil.

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