KUALA LUMPUR: Yinson Production's US$1.458 billion (RM5.9 billion) Agogo floating production, storage and offloading (FPSO) project bond refinancing has freed up financing capacity for new projects as the company eyes expansion across Southeast Asia, West Africa and Latin America.
Chief financial officer Markus Wenker said the refinancing allowed the company to repay about US$1.4 billion in existing loans, freeing up lending capacity among its financiers to support future projects.
He said Yinson Production had diversified its funding sources over the past four years, reducing its reliance on bank loans to a financing mix of about 75 per cent bank funding and 25 per cent institutional investment.
