Yinson Production closes US$1bil investment from international consortium
In a statement, Yinson Production said it had inked a definitive agreement on Jan 14, 2025, and satisfied the closing conditions, including regulatory approvals and approval by the shareholders of Yinson Holdings Bhd.
The investment is made through the issuance of US$1bil of redeemable convertible preferred shares (RCPS) and warrants by Yinson Production Offshore Holdings Limited, a newly established UK-based holding company.
The agreement provides for the option to issue additional RCPS of up to US$ 500mil within 24 months from closing, subject to agreement.
Upon closing, the investors funded the first tranche of US$300mil, of which US$200mil has been used for a special distribution to Yinson.
The remaining US$700mil of committed RCPS will be called in up to three installments by December 2026.
'We are delighted to have successfully closed this significant investment from leading global investors. This investment not only reflects the quality of our business with highly visible cash flows and significant revenue backlog, but underscores the confidence in Yinson Production's long-term growth potential.
"By further strengthening our financial foundation, this transaction positions us well to pursue new opportunities in a rapidly evolving offshore energy landscape,' said Yinson Production chief financial officer Markus Wenker.
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