Singapore, 19 April 2024 – 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 longterm contracts and highly visible cash flows as well as the attractive FPSO market
environment.”
