Yinson Production achieves industry-first non-Brazil FPSO project bond at $1.46 billion

Yinson Production has closed the largest FPSO project bond to date at $1.458 billion, marking the first-ever non-Brazil issuance for the asset class.

Yinson Production has closed the largest FPSO project bond to date at $1.458 billion, marking the first-ever non-Brazil issuance for the asset class.

3 minutes read LinkedIn X Email FPSO Agogo Source: Yinson Production via LinkedIn Singapore’s Yinson Production, a subsidiary of Kuala Lumpur-based energy infrastructure and technology company Yinson, has locked in a $1.458 billion senior secured notes offering, setting a new benchmark for the floating production, storage, and offloading (FPSO) sector.

The pricing of $1.458 billion in 144A/RegS senior secured notes by Yinson Azalea Production marks the industry's first-ever FPSO project bond issued outside of Brazil, broadening the global infrastructure asset class for institutional investors as the company refinances its FPSO Agogo , which is leased to Azule Energy and operates in block 15/06 offshore Angola under a 15-year firm, plus extension options for up to five years, bareboat charter.

Markus Wenker , Yinson Production’s Chief Financial Officer, commented: “We are very pleased with the strong support from institutional investors for this offering, which is our third FPSO project bond in three years and sets a new benchmark as the largest FPSO project bond to date.

“It also represents an important milestone for the asset class as a whole, as this is the first FPSO project bond outside Brazil, broadening and diversifying the investable universe for investors seeking exposure to infrastructure assets backed by highly visible cash flows and strong counterparties.” Yinson Production has closed the largest FPSO project bond to date at $1.458 billion, marking the first-ever non-Brazil issuance for the asset class.

3 minutes read LinkedIn X Email FPSO Agogo Source: Yinson Production via LinkedIn Singapore’s Yinson Production, a subsidiary of Kuala Lumpur-based energy infrastructure and technology company Yinson, has locked in a $1.458 billion senior secured notes offering, setting a new benchmark for the floating production, storage, and offloading (FPSO) sector.