Yinson gets US$780m loan for Ghana FPSO project

PETALING JAYA: Yinson Holdings Bhd, via its indirect wholly-owned unit, Yinson Production (West Africa) Pte Ltd (YPWA) has secured a US$780 million (RM2.88 billion) term loan facility with five major banks to part finance its project in Ghana.
The banks involved are CIMB Investment Bank Bhd, Maybank Kim Eng Securities Pte Ltd, Oversea-Chinese Banking Corporation Limited (OCBC), Standard Chartered Bank and United Overseas Bank Limited (UOB).
The US$2.54 billion contract awarded by Eni Ghana is the conversion and refurbishment of a floating, production, storage and offloading (FPSO) facility.
The FPSO will process oil and gas from the Offshore Cape Three Points block, located in the Tano Basin, some 60 km off the coast of Ghana.
The contract is for a firm charter period of 15 years with five yearly extension options exercisable by Eni Ghana.