Malaysia’s Yinson plans $100 million 7% guaranteed senior perpetuals

By Marisa Wong

Morgantown, W.Va., Sept. 17 – Yinson Holdings Bhd.’s wholly owned subsidiary, Yinson TMC Sdn. Bhd., is proposing to issue $100 million of guaranteed senior perpetual capital securities with an initial distribution rate of 7%.

The securities will be guaranteed by the parent company and are callable five years from the date of issuance.

CIMB Investment Bank Bhd. and HSBC Bank Malaysia Bhd. are the joint placement agents for the proposed Regulation S securities.

The perpetuals are expected to be issued by Sept. 30.

Proceeds will be used to repay existing borrowings and for capital expenditure, investments and other general corporate purposes.

Based in Johor Bahru, Malaysia, Yinson provides offshore support services to the oil and gas industry.

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