PETALING JAYA: Sapura Energy Bhd
(SEB) entered into a conditional funding agreement or CFA with Malaysia Development Holding Sdn Bhd (MDH) yesterday, with the latter subscribing up to RM1.1bil in nominal value of redeemable convertible loan stocks (RCLS) in SEB.
MDH, a special-purpose vehicle of the Minister of Finance (Incorporated) has specified that proceeds of the subscription are only intended to be used for the settlement or payment of liabilities owed by the SEB group to Malaysian service providers operating in or supporting the oil and gas (O&G) sector in the country.
