Posted by Jimmy Song > 2013-06-17 14:18 | Report Abuse

Yinson appoints three (3) bankers for the financing of the proposed acquisition KUALA LUMPUR, MALAYSIA 17 JUNE 2013 - YINSON HOLDINGS BERHAD (“Yinson”, the “Company” or “云升控股有限公司”), is pleased to announce that Maybank Berhad (“Maybank”), United Overseas Bank Limited, Singapore (“UOB”) and AmInvestment Bank (“AmInvesment”) (“Acquisition Loan”) are the committed financiers for the recently announced proposed acquisition of the Norwegian listed company Fred Olsen Production ASA (“Propoosed Acquisition”) UOB is appointed as Facility and Security Agent of the Acquisition Loan and AmInvestment Bank is the Principal Adviser for this Proposed Acquisition. UOB and Amivesmtnet banks have been Yinson’s main bankers all these years, and the management is pleased to have their continuous support throughout the Company’s on-going expansion for the company. Maybank is appointed as the Financial Adviser for this Proposed Acquisition and this is the first major deal to embark their working relationships. “We are sincerely thankful to our financiers and advisers for their continued support throughout the process of this proposed acquisition. We are proud to be working with Maybank, being the biggest Bank in Malaysia. We look forward to establish a long-term working relationship with Maybank, and we believe that given their prominent track record and experience in the market, it will be a promising relationship going forwards,” commented Mr. Lim Han Weng (“林汉荣”), Managing Director of Yinson. The total acquisition cost of RM576 million will be satisfied by the bank borrowing from Maybank, UOB and AmInvestment Bank of approximately RM400 million, with the balance of RM176 million to be funded through its proposed private placement, share issuance and internally generated funds. About Fred Olsen Production ASA FOP was incorporated in Norway in 1980 as a private limited company and became a public listed Norwegian company listed on the Oslo Stock Exchange in 2007. FOP and its subsidiaries own and operate a fleet of FPSO’s in the international oil and gas markets, as well as a MOPU for an oil company client. FOP currently has operating offices in Singapore, Norway, Nigeria, Gabon and Houston. For further information, please log onto www.yinson.com.my or www.bursamalaysia.com.my