EIG PEARL COMPLETES NEARLY US$11 BLN SENIOR DEBT REFINANCING PROGRAMME

KUALA LUMPUR, July 3 (Bernama) -- EIG Pearl Holdings S.à r.l., a holding company formed and managed by EIG, announced the completion of an approximately US$11.2 billion senior debt refinancing programme. (US$1=RM4.71)

EIG in a statement said the proceeds from the refinancing were used to repay amounts drawn under an acquisition debt facility that was used to finance its June 2021 acquisition of a 49 per cent interest in Aramco Oil Pipelines Company (AOPC).

The company’s pro forma capital structure includes approximately US$11.2 billion of senior secured public bonds and private debt facilities with some 16 years remaining weighted average life and about US$1.9 billion of common equity invested in June 2021 to partially fund the initial acquisition.

The completion of this refinancing programme further expands the participation of global capital providers in this transaction and underlying asset in the Kingdom of Saudi Arabia, with almost US$8.5 billion or roughly 65 per cent of the total invested capital came from a global group of well-known institutional investors and lenders from the United States, China, Japan, Korea, the United Arab Emirates and other global institutions.

EIG Pearl Holdings S.à r.l. is indirectly owned 89.45 per cent by an aggregator vehicle managed and controlled by EIG Management Company LLC, an institutional investor in the global energy and infrastructure sectors, and its affiliates.

-- BERNAMA