Fortune Oil Signs USD 300 Million Loan Facility

Fortune Oil announced the signing of a USS300 million loan agreement by Fortune Oil PRC Holdings Limited, the company’s principal intermediate holding company in Hong Kong.

The facility is denominated in USS with a term of three years and a margin of 2.75% over LIBOR. The facility is guaranteed by Fortune Oil and secured by share charges over its various investment holdings subsidiaries.

Morgan Stanley Asia Limited is the Global Coordinator and Facility Agent Bank. A total of 18 international and regional banks participated in the transaction and the facility was materially over-subscribed.

The facility structure is similar to the company’s US$180 million three year loan facility signed in April 2011. This new facility will be used to repay the existing syndicated loan, provide the company with working capital, and finance new investment.

LNG World News Staff, October 18, 2013; Image: Fortune Oil

Share this article

Follow LNG World News

Events>

<< Oct 2019 >>
MTWTFSS
30 1 2 3 4 5 6
7 8 9 10 11 12 13
14 15 16 17 18 19 20
21 22 23 24 25 26 27
28 29 30 31 1 2 3

CWC World LNG Summit & Awards Evening

The CWC World LNG Summit & Awards Evening will be returning to Rome in 2019 to celebrate it’s 20th year.

read more >

LNG Bunkering Mediterrean

The only 3-day course offering theoretical and practical training on LNG bunkering designed by the Mediterranean market leaders.   

read more >

6th Mozambique Gas Summit & Exhibit

This year’s edition will have a revamped programme for attendees.

read more >

FLNG World Congress 2019

2019 FLNG World Congress will bring together stakeholders across the floating liquefaction value…

read more >