US$380 million syndicated financing facilities to Sarawak Petchem Sdn. Bhd.
Advised a syndicate of banks in relation to USD term financing facilities (“Facilities”) made available to Sarawak Petchem Sdn. Bhd. (“SPSB”), comprising a conventional term financing facility of up to the principal amount of US$334 million and an Islamic term financing facility of up to the principal amount of USD46 million. Maybank Investment Bank Berhad and RHB Investment Bank Berhad acted as mandated lead arrangers and bookrunners for the Facilities.
The proceeds of the Facilities are to be utilised by SPSB (of which the Sarawak Economic Development Corporation and Permodalan Satok Berhad are shareholders) to, among other things, part-finance all fees, costs and expenses in relation to the development and operation of a methanol plant and export facilities on approximately 154 acres of land located in Kemena Land District, Tanjung Kidurong, Bintulu, Sarawak with a production capacity of 5,000 metric tonnes per day.
Advising the Facilities were Partners Syed Rashid bin Rahim Alsree and Kelvin Loh, Principal Vivien Yeow, Senior Associates Wong Yen Yen and Kimberley Yee.