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With Settlement Scheduled for July 7, 2025, Yinson Production Is About to Secure Issuance of US$ 1.17 Billion for Unit Operating for the State-Owned Company in the Pre-Salt.
Yinson Production, a subsidiary of Malaysia’s energy giant Yinson, is finalizing one of the largest financial operations in the industry. The company will secure a bond issuance of US$ 1.17 billion to refinance a FPSO (Floating Production, Storage and Offloading unit) that is already in operation for Petrobras in Brazilian waters.
The Refinancing of the FPSO Maria Quitéria Chartered by Petrobras
The company is just ten days away from completing the billion-dollar bond issuance. The capital will be used exclusively to refinance the FPSO Maria Quitéria. This platform is chartered by Petrobras and operates in the pre-salt of the Campos Basin, one of the most strategic points for oil production in Brazil.
Long-Term Partnership with Petrobras in the Jubarte Field
The FPSO Maria Quitéria operates for Petrobras in the Jubarte field since October 2024. The unit, owned by Yinson Bergenia Production, is under a fixed-rate charter contract with a duration of 22.5 years. The total value of this contract is estimated at an impressive US$ 5 billion.
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The Power of the FPSO at the Heart of the Parque das Baleias Project
The dimensions of the platform are colossal: 333 meters in length and 156 meters in height. Its production capacity is 100,000 barrels of oil per day, in addition to processing up to 5 million cubic meters of gas daily. The Jubarte field is part of the integrated project Parque das Baleias, which includes five other producing fields.
Who Is Behind the Billion-Dollar Financial Structure?
The robust financial structure of the issuance reflects market confidence in the project with Petrobras. Citigroup and JP Morgan are serving as global coordinators of the operation. They are joined by HSBC, ING, Santander, and Standard Chartered Bank as joint coordinators. The notes will have a final maturity of 19.6 years.
Yinson’s Portfolio Reaches US$ 19 Billion
This operation reflects strong market appetite for investments in the sector. Recently, Yinson Production had already completed a capital raising of US$ 1 billion. With a portfolio of orders reaching US$ 19 billion by 2048 and a fleet of ten floating units, the company is establishing itself as a leading force in the global energy market.
