Equatorial Guinea: Aseng Secures US$ 602 M Project Debt facility

Aseng Production Company Limited, a Joint-Venture incorporated between SBM Offshore and “GEPetrol, Compania Nacional de Petroleos de Guinea Ecuatorial” (GEPetrol), has successfully secured a US$ 602 million Project Debt facility in order to finance the investment in the lease of the FPSO Aseng (image) to be operated offshore Equatorial Guinea for Noble Energy.

The facility is a combination of a Bank Loan of US$ 400 million and a GEPetrol Shareholder Loan of US$ 202 million under a 5 years tenor.

The Bank syndication is built on a Club Deal basis and is composed of the following eight banks: ING (Facility Agent), Rabobank (Documentation Agent), ABN-Amro (Security Agent), BTMU (Modeling Agent), BNPP, CIC, Natixis and SMBC.

[mappress]

Source:  SBM Offshore, December 21, 2010;