In a filing to Bursa Malaysia today, it said the MCF 2021, with a combined value of about RM10.3 billion, consisted of Conventional Facilities Agreement 2021 with Malaysian, regional and international banks, and Sukuk Murabahah Issuance 2021 under its Multi-Currency Sukuk Programme with a consortium of Malaysian banks.
Sapura Energy said the banks will make available a US dollar term loan facility amounting to approximately US$602 million and a ringgit term loan facility amounting to RM906 million to Sapura TMC upon completion of certain conditions precedent. The proceeds from the MCF 2021 will be utilised towards full settlement of all amounts payable and outstanding by Sapura TMC under its 2014 conventional facility, 2015 Islamic facility, 2017 conventional facility and the existing outstanding Sukuk Murabahah under the Multi-Currency Sukuk Programme.
“The refinancing exercise and previously announced RM1.2 billion working capital provides us timely financial headroom in a recovering energy market,” said Sapura Energy group chief executive officer Datuk Mohd Anuar Taib.
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