Yinson Production has placed $1.168 billion project bond to refinance floating production, storage and offloading (FPSO) Maria Quitéria, which is operating under a 22…
Yinson Production has placed $1.168 billion project bond to refinance floating production, storage and offloading (FPSO) Maria Quitéria, which is operating under a 22.5-year lease and operate contract with Petrobras in the Jubarte field, offshore Brazil.
The $1.168 billion 144A/Reg S senior secured notes were issued by Yinson Bergenia Production.
The notes are fully amortizing with a final maturity of 19.6 years and were priced at a fixed coupon of 8.498%, payable semi-annually.
The proceeds from the transaction will be used to, inter alia, refinance the existing outstanding debt related to the FPSO, fund reserve accounts as required under the new bond issue, unless funded by letters of credit, pay for transaction-related fees and expenses, and for distributions to Yinson Production as shareholder of the issuer.
The notes are expected to settle on July 7, 2025 and will subsequently be listed on the London Stock Exchange’s International Securities Market with Bloomberg ticker symbol YPMQBR.
“The successful placement of this project bond marks another key
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