Yinson Production loan buyout done
In a statement, the comprehensive FPSO solutions provider said at the time of the completion of the transaction, the principal amount outstanding under the project loan was approximately US$408.8mil (RM1.7bil), for which the company paid a total cash consideration of US$255.5mil plus US$1.9mil in accrued interest.
'The transaction was funded with cash on hand and the company expects to raise new debt financing for the FPSO in the future,' it said.
Yinson Production acquired FPSO Atlanta from Brava through a purchase option in 2023, partly funded by the project loan provided by Brava.
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