Posted by GenghisHoe > 2021-06-13 21:12 | Report Abuse

To reach me at: https://whyvalueinvesting.blogspot.com/2021/06/yinson-could-you-answer-some-of-my.html

Posted by vcinvestor > 2021-06-14 08:43 | Report Abuse

Good morning,

Non-recourse / recourse has no relation to the security arrangement. Recourse just refers to whether Yinson (parent company) has issued a corporate guarantee guaranteeing the repayment of the loan. What Yinson IR is saying is that the loan (which is secured, likely against a mortgage over the FPSO) is not guaranteed by Yinson Holdings Berhad.

source: former banker who did FPSO financing before.

Posted by stockraider > 2021-06-14 08:49 | Report Abuse

Non Recourse loan are just talk kook syiok sendiri arrangement ; Sapnrg, Valesto and Bumi Armada all also borrowed project financing non recourse but all nearly bankrupt when the oil market collapse last 3 years mah!



Posted by vcinvestor > Jun 14, 2021 8:43 AM | Report Abuse

Good morning,

Non-recourse / recourse has no relation to the security arrangement. Recourse just refers to whether Yinson (parent company) has issued a corporate guarantee guaranteeing the repayment of the loan. What Yinson IR is saying is that the loan (which is secured, likely against a mortgage over the FPSO) is not guaranteed by Yinson Holdings Berhad.

source: former banker who did FPSO financing before.

Posted by vcinvestor > 2021-06-14 08:52 | Report Abuse

not saying that non-recourse financing is any better or worse in protecting the shareholders of the holding company. I am just clarifying to GenghisHoe the difference between recourse and security. Happy to answer any other debt-related questions you all may have as i've seen a lot of nonsense been shared lately (more than usual)