Yinson-Sumitomo Secures Loan From Partner Banks for the Construction of FPSO Anna Nery Destined for Petrobras’ Marlim 2 Field in the Campos Basin
Yinson Holdings Bhd and its partner Sumitomo Corporation have entered into a bridge loan financing agreement of US$ 400 million for the FPSO Anna Nery Project, a floating production, storage, and offloading (FPSO) vessel for Petrobras’ Marlim field revitalization project in the Campos Basin.
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In a statement on Friday (18), Yinson said the bridge loan should be utilized starting in October 2020 to support the construction of Petrobras’ FPSO Anna Nery, and Sumitomo continued to work on closing the long-term project financing package.
The group’s strategy director at Yinson, Daniel Bong, said the deal was oversubscribed by the participating banks, which is a strong testament to their support for Yinson, despite the challenging situation of Covid-19 and the drop in oil prices.
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“The support we received for this deal is indeed a strong indication of the confidence that the financial community has in Yinson, despite the various obstacles exacerbated by the Covid-19 pandemic.
“We are immensely grateful to our partner, Sumitomo, the participating banks, and our client, Petrobras, for the unwavering support demonstrated for this transaction. Through our close working relationship and collaboration, we successfully achieved the goals of all parties,” Bong said in the statement.
The bridge loan for the FPSO project is supported by the Export-Import Bank Of Malaysia Bhd; Maybank Investment Bank Berhad and Maybank International Labuan Branch; Mizuho Bank Ltd, Labuan Agency; Natixis, Singapore Branch; Standard Chartered Bank (Singapore) Limited; Sumitomo Mitsui Banking Corporation, Singapore Branch; and The Hongkong And Shanghai Banking Corporation Limited.
About the Construction Project of FPSO Anna Nery for Petrobras
According to Petrobras, the FPSO Anna Nery will be installed about 150 kilometers off the Brazilian coast, in water depths of 930 meters. It will have the capacity to process up to 70,000 bpd of oil and 4 million cbm of natural gas in the Marlim field.
The FPSO is expected to achieve first oil by the first quarter of 2023, where it will remain for 25 years. This will be Yinson’s first vessel to operate in Brazilian waters. It will have a storage capacity of 1.6 million barrels. It is owned by Yinson (75%) and Sumitomo (25%).

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