(WO) — Yinson Production has completed the buy-out of the project loan tied to FPSO Atlanta from Brava Energia S.A., paying a total of approximately $257.4 million in cash, including $255.5 million in principal and $1.9 million in accrued interest.
FPSO Atlanta (Image: Yinson Production)
The loan had an outstanding balance of $408.8 million at the time of the transaction. Yinson used cash on hand to fund the deal but plans to raise new debt financing for the FPSO in the future.
Yinson originally acquired FPSO Atlanta from Brava in 2023 by exercising a purchase option. The vessel is operating under a 15-year firm contract, with a five-year extension option, and reached first oil on December 31, 2024. The remaining contract value is estimated at $2 billion.
This article was originally posted at www.worldoil.com
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