SINGAPORE, April 19, 2024 /PRNewswire/ -- Yinson
Production Offshore Pte. Ltd. ("Yinson Production") is pleased to
announce the successful placement of a USD
500 million senior secured bond issue with a 5-year tenor
and a fixed coupon of 9.625% per annum in the Nordic bond
market.
This bond issue marks the debut of Yinson Production in the
international capital markets. The net proceeds from the bond issue
will be used to refinance Yinson Production's existing corporate
loan and for general corporate purposes. An application will be
made for the bond to be listed on Oslo Børs in due course.
DNB Markets and Pareto Securities acted as Joint Bookrunners and
ABG Sundal Collier acted as Joint Lead Manager in connection with
the bond issue.
Commenting on the successful placement of the bond issue,
Markus Wenker, Chief Financial
Officer of Yinson Production, said, "With this inaugural bond issue
in the Nordic bond market, we have successfully expanded our
financing toolkit and further broadened Yinson Production's funding
base in an ever-changing financial markets landscape. The bond
issue received significant interest from the investor community and
was substantially oversubscribed, reflecting the compelling
investment proposition underpinned by our long-term contracts and
highly visible cash flows as well as the attractive FPSO market
environment."
About Yinson Production
"Passionately delivering powerful solutions"
Yinson Production is a leading independent owner and operator of
floating storage, production and offloading ("FPSO") vessels
worldwide. With a fleet of 9 vessels, we have an orderbook of over
USD 22 bn until 2048 and global
presence in 10 countries.
Our position as a top tier FPSO contractor is driven by our
excellent track record in project execution, industry-leading
safety and uptime performance, and a leadership position in
sustainable FPSO designs. Our innovative Zero Emissions FPSO
Concept is paving the way for the decarbonisation of the FPSO
industry.
We are a business of Yinson Holdings Berhad, a global energy
infrastructure and technology company active in offshore energy
with Yinson Production, renewable energy with Yinson Renewables,
green technologies with Yinson GreenTech, sustainable investment
and asset management with Farosson, and offshore marine with
Regulus Offshore.
For more information about us, please visit
www.yinson.com/offshore-production.
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