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.