HRC Establishes RM5 Billion Unrated MTN With Multi Currency Revolving Credit

Hengyuan Refining Company Berhad is establishing an unrated medium-term notes programme of up to RM5 billion in nominal value and has secured multi-currency revolving credit facilities of up to USD235.0 million and RM250.0 million.

The unrated MTN Programme will be issued in tranches, over a tenure of 30 years via bought deal or private placement with AmInvestment Bank Berhad and Maybank Investment Berhad as the Joint Principal Advisers, Joint Lead Arrangers and Joint Lead Managers; and Malaysian Trustees Berhad as the Trustee. The multi-currency RC Facilities are offered by AmBank (M) Berhad, China Construction Bank Corporation Labuan Branch and Malayan Banking Berhad.

The oil refining company said the funds attained will be utilised towards refinancing existing loans, funding the medium-term growth and working capital of HRC that will enable the Company to proceed with its planned upgrade and maintenance projects for the refinery.

Mr Wang YouDe, Chairman of Hengyuan Refining Company Berhad said, “This financing programme is important decision-making to HRC’s ongoing efforts to maintain sustainability and help HRC reach its next level of growth. We are focused on driving the sustainability of our operations and long-term growth strategies which will aid in maintaining the company’s competitive advantage. On this note, we express our gratitude to the three banks participating in this financing exercise. We believe this will deliver greater value to HRC’s shareholders and stakeholders.”

Dato’ Sulaiman Mohd Tahir, Group Chief Executive Officer, AmBank Group said, “We are pleased to support HRC in driving its ambition to rejuvenate and revamp its refining operations which will pave way towards a more sustainable and greener downstream operations. We hope the financing programme will allow HRC to optimise its capital structure and tap on future opportunities in the greener energy market.

Dato’ Fad’l Mohamed, Chief Executive Officer of Maybank Investment Bank said, As the leading investment bank in Malaysia, Maybank Investment Bank will continue to leverage our deep local knowledge and strong regional links to support global players such as HRC to further deepen and broaden Malaysia’s debt market.”

Wong Qijie, Principal Officer of CCB Labuan said, “We are pleased to offer the USD RC Facility together with two other local banks, AmBank (M) Berhad and Malayan Banking Berhad to HRC.  Going forward, CCB Labuan is committed to providing total banking solutions and support to corporations operating in key sectors of the Malaysian economy, including those related to industrial production, green and renewable energy, infrastructure ecosystem, etc.”

Previous articleAneka Jaringan Awarded with RM46 Million Contract Work
Next articleKSL Holdings Acquired Lands from Tropicana in Johore for RM102.9 Mil


Please enter your comment!
Please enter your name here