Yinson Holdings has raised $100m from a perpetual bond, the first tranche under its $500m multi-currency perpetual securities programme set up in July.
The bonds, which were issued at par with a coupon rate of 7.85%, have a call option on the fifth anniversary of their issuance.
“The issuance marks the group’s third capital market transaction since its inaugural capital market issuance in September 2015,” Yinson said
“The unique characteristics of the perpetual securities lend towards lowering the gearing levels of the group while buffering equity base and aiding to extend financing maturities.
