Yinson secures US$720mil financing for FPSO Maria Quitéria


KUALA LUMPUR: Yinson Holdings Bhd through its indirect wholly-owned Netherlands-based subsidiary Yinson Bergenia Production B.V. (YBPBV) has entered into a US$720mil syndicated loan facility for the FPSO Maria Quitéria project.

In a statement, Yinson said the facility agreement was signed with ING Bank N.V., Singapore Branch, Maybank Group, Natixis Corporate & Investment Banking, Standard Chartered Bank (Singapore) Limited and United Overseas Bank Limited as mandated lead arrangers, underwriters and bookrunners.

The agreement was also signed by the Hongkong and Shanghai Banking Corporation Limited and J.P. Morgan who are participating as mandated lead arrangers.

The 6-year limited recourse loan will be used to support the ongoing construction of FPSO Maria Quitéria, a floating, production, storage and offloading (FPSO) project awarded to Yinson by Petróleo Brasileiro S.A. (Petrobras) in November 2021.

Yinson group chief strategy officer Daniel Bong said that the deal was a testament of the robustness of the group’s business strategy.

“The FPSO financing space has been very competitive, as many postponed oil and gas developments have resumed post-pandemic and investor appetites have evolved with energy transition agendas.

“Thus, the success of this deal is remarkable, assuring us that our robust business model and proven capabilities have earned the confidence of our stakeholders,” he said.

FPSO Maria Quitéria is destined for the Jubarte field for the Parque das Baleias Integrated Project, located in the northern part of the Campos Basin (offshore Brazil).

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