Sapura Energy Signs RM700M Working Capital Facilities

Source: www.gulfoilandgas.com 2/26/2021, Location: Asia

Sapura Energy Berhad (“Sapura Energy”) a leading global integrated oil and gas services and solutions provider, announced that it has signed an Islamic Facilities Agreement of up to RM700 million with Maybank Islamic Berhad (“Maybank Islamic”). The financing tenure of this facility is up to five years.

The financing is in addition to working capital facilities of up to USD135 million secured from CIMB Bank Berhad (“CIMB”) in November 2019. The combined value of facilities from the two major banks is approximately RM1.2 billion.

The facilities with Maybank Islamic consist of murabahah revolving and invoice financing facilities whereas the facilities with CIMB is a multi-option line under trade financing.

With the gradual recovery in the energy sector, the working capital facilities will boost the Sapura Energy group of companies’ financial strength to execute existing projects and undertake future contracts globally.

Sapura Energy announced global contract wins of RM1.85 billion earlier this month, demonstrating the group of companies’ resilience in capturing opportunities in addressable markets and deliver its promises to clients and stakeholders.


Senegal >>  4/21/2021 - FAR Limited refers to its ASX announcement dated 14 April 2021 which attached a letter from Remus Horizons PCC Limited as requested by it advising its...
United Kingdom >>  4/20/2021 - Petrofac has announced results for the year ended 31 December 2020

- Protected margins and conserved cash in challenging market conditions<...


Australia >>  4/19/2021 - Santos notes the announcement from Fitch Ratings (Fitch) assigning Santos a BBB credit rating with stable outlook.

Having a second investme...

Cameroon >>  4/19/2021 - Victoria Oil & Gas Plc , whose wholly owned subsidiary, Gaz du Cameroun S.A . ("GDC"), is the onshore gas producer and distributor with operations lo...

Libya >>  4/19/2021 - The National Oil Corporation (NOC) announces a state of Force Majeure as of April 19, 2021 for the interruption of producing and exporting of crud...
United States >>  4/19/2021 - Genesis Energy, L.P. announced the commencement of a registered, underwritten public offering of $200,000,000 in aggregate principal amount of 8.0% se...




Gulf Oil and Gas
Copyright © 2021 Universal Solutions All rights reserved. - Terms of Service - Privacy Policy.