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Yinson appoints banks to fund proposed acquisition of Fred Olsen production

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Yinson appoints banks to fund proposed acquisition of Fred Olsen production Empty Yinson appoints banks to fund proposed acquisition of Fred Olsen production

Post by Cals Mon 17 Jun 2013, 18:41

Yinson appoints banks to fund proposed acquisition of Fred Olsen production
Business & Markets 2013
Written by Bernama   
Monday, 17 June 2013 15:26

KUALA LUMPUR (June 17): Yinson Holdings Bhd has appointed MALAYAN BANKING BHD [] (Maybank), United Overseas Bank Ltd, Singapore (UOB) and AmInvestment Bank to fund its proposed acquisition of the Norwegian listed company, Fred Olsen Production ASA.
In a statement today, Yinson said Maybank will be the financial adviser, UOB, facility and security agent, and Aminvestment Bank, the principal adviser.
Managing director, Lim Han Weng, the acquisition cost of RM576 million will be satisfied by the borrowing from Maybank, UOB and AmInvestment of about RM400 million, with the balance of RM176 million to be funded via its proposed private placement, share issuance and internally-generated funds.        
Yinson is one of Malaysia's premier integrated offshore services providers, which is a listed company on the main market of the Bursa Malaysia Securities Bhd. – Bernama
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