Kuala lumpur: Yinson Holdings Bhd’s unit, Yinson Production, has finalized the buy-out of the project loan related to the floating production storage and offloading (FPSO) vessel ‘Atlanta’ from Brava Energia S.A. for a cash consideration of approximately US$257.4 million, including accrued interest.

According to BERNAMA News Agency, Yinson stated that at the time of completion, the principal amount outstanding under the project loan was approximately US$408.8 million. The company paid a total cash consideration of approximately US$255.5 million, along with about US$1.9 million in accrued interest.

The transaction was funded using cash on hand, and Yinson plans to secure new debt financing for the FPSO in the future. Yinson Production had acquired FPSO Atlanta from Brava by exercising a purchase option in 2023, which was partially funded by the project loan from Brava.

The FPSO is currently operating under a 15-year firm contract, with a five-year extension option, with Brava and achieved first oil on December 31, 2024. The remaining total contract value is approximately US$2 billion.