Watson, Farley & Williams Asia Practice LLP (“WFW”) is pleased to announce that it has acted on behalf of PTSC Asia Pacific Pte Ltd, (a joint venture between PetroVietnam Technical Services Corporation and Yinson Holdings Berhad) on a term loan facility of up to US$300,000,000 to finance project costs in relation to the floating production, storage and offloading (FPSO) unit “PTSC LAM SON”.
The facility was made available by Oversea-Chinese Banking Corporation Limited (“OCBC”) and United Overseas Bank Limited as mandated lead arrangers with OCBC acting as facility agent and security agent.
The FPSO is under conversion at Keppel Shipyard Limited in Singapore and will be operated on the Thang Long – Dong Do field offshore Vietnam by Lam Son JOC (a venture between Petronas Carigali Overseas Sdn Bhd and PetroVietnam Exploration Production Corporation).
The transaction was led by partner Andrew Nimmo, who was assisted by senior associate Vijay Jeyaratnam and partner Peter Chean.
