Win Offshore gets a portion of IFC-WINS loan deal
Thursday, August 23 2012 - 11:12 AM WIB
Indonesia-listed upstream offshore vessel supplier PT Wintermar Offshore Marine (WINS) has signed an agreement with International Finance Corporation (IFC), which allows WINS? subsidiary, PT Win Offshore, to be the third recipient of US$45 million loan the IFC agreed on December 27, 2011, to provide to WINS? two units, PT Wintermar and PT Sentosasegara Mulia Shipping.
Under the Guarantee Agreement signed on August 16 by WINS and IFC, Win Offshore will act as an additional debtor in the December loan deal signed by WINS and the IFC, according to a WINS? filing to the Jakarta Stock Exchange.
It did not say the portion of loans that Win Offshore will get.
In December, the IFC has agreed to provide US$45 million in loans to Wintermar and Sentosasegara to be used to finance WINS? fleet expansion plan, including the acquisition of 6 additional high value offshore support vessels (OSV) to complement the group's growing OSV fleet in the period 2011 ? 2012. The IFC Loan has a seven year tenor.
Editing by Dadan Wijaksana