Sapura Energy Berhad today announced that its wholly owned subsidiary, Sapura TMC Sdn Bhd (‘Sapura TMC’), had executed multi-currency financing facilities agreements (collectively, the ‘MCF 2021’) to refinance its existing borrowings.

MCF 2021, signed with a consortium of Malaysian, regional and international banks, provides for financing with a combined value of approximately RM10.3 billion, for a tenure of seven years.

It includes a Conventional Facility Agreement and a further issuance of unrated Sukuk Murabahah under the Multi-Currency Sukuk Programme announced in 2015. The planned refinancing is part of the Group’s capital management program to lengthen the maturity of its debt.

‘The refinancing exercise and previously announced RM1.2 billion working capital provides us timely financial headroom in a recovering energy market,’ said Sapura Energy Group Chief Executive Officer Datuk Mohd Anuar Taib.

‘This will allow us to continue our track record of winning new oil & gas contracts; and explore emerging opportunities in the renewable energy sector.’

Datuk Mohd Anuar expressed gratitude to the coordinating banks, Maybank and CIMB Bank; and the participating banks, namely Maybank, CIMB Bank, RHB Bank, AmBank, EXIM Bank Malaysia, United Overseas Bank, ING Bank, Sumitomo Mitsui Banking Corporation, Standard Chartered Bank and First Abu Dhabi Bank; for their continued support to Sapura Energy.

With renewed confidence in its financial strength, Sapura Energy forges ahead in executing global projects in its current order book. The Group recently announced global contract wins of RM1.85 billion, demonstrating the Group’s resilience in capturing opportunities in addressable markets and deliver its promises to clients and stakeholders.

 

Source Market Screener

SHARE