KUALA LUMPUR, March 20 Malaysian oilfield
service provider SapuraKencana Petroleum Bhd said on
Thursday it has signed a $5 billion refinancing deal with 13
banks to partly fund two of its most recent acquisitions.
The company bought Seadrill Ltd's tender rig
business in 2012 and the entire equity stake of Newfield
Exploration Co's Malaysian oil and gas assets last year.
The refinancing was also done to replace and streamline its
existing borrowing facilities, SapuraKencana said in a
The deal, of which 70 percent is in U.S. dollars,
constitutes a senior multi-currency term and revolving
facilities with short and long-term tenures of up to seven
years, according to the company.
Maybank and CIMB were the coordinating
banks while Maybank acted as the agent and the security agent,
Shares of SapuraKencana ended the morning session 1.19
percent lower at 4.16 ringgit per share, underperforming the
benchmark index's 0.23 percent drop. The shares have
climbed 39.4 percent over the past year.
(Reporting By Yantoultra Ngui; Editing by Matt Driskill)