Yinson-Sumitomo secures US$400mil bridge financing for FSPO Anna Nery

TheStar Fri, Sep 18, 2020 02:25pm - 3 years View Original


Virtual event for bridge facility signing ceremony between Yinson and project partner, Sumitomo together with 7 local and international banks

KUALA LUMPUR: Yinson Holdings Bhd and its project partner, Sumitomo Corporation, have entered into a US$400mil bridge loan financing agreement for the FPSO Anna Nery Project, a floating, production, storage and offloading (FPSO) vessel for the Marlim revitalization project in Brazil.

In a statement Friday, Yinson said the bridge loan was expected to be utilised from October 2020 to support the ongoing construction of FPSO Anna Nery whilst Yinson and Sumitomo continued to work on closing the long-term project financing package for the project.

Sumitomo has a 25% stake in the FPSO Anna Nery Project, which was awarded to Yinson by Petróleo Brasileiro S.A. (Petrobras) in October 2019.

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