Mandate to Structure and Arrange Debt Finance
Seascape Energy Asia PLC has mandated Macquarie Bank Limited to structure and arrange debt finance facilities for the development of its DEWA Cluster (SEA 28%) and Temaris Cluster (SEA 100%) gas fields offshore Malaysia. This multi-tranche debt facility will support development expenditure, with availability tied to specific milestones, and remains subject to successful legal and technical due diligence and Macquarie's internal approvals. The company views this as a significant step towards securing financing for these important gas projects, which aim to bolster domestic supply in Malaysia and serve regional export markets.
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Seascape Energy, an E&P company focused on Southeast Asia, is pleased to announce that it has exclusively mandated Macquarie Bank Limited ("Macquarie") to act as the sole Structuring Bank and Technical and Modelling Bank for the debt financing to support the development of the DEWA Cluster (SEA 28%) and Temaris Cluster (SEA 100%) gas fields, offshore Malaysia.
Seascape will work together with Macquarie over the coming months to structure and execute a multi-tranche, debt facility to meet development expenditure with availability linked to certain milestones typical for this type of financing. Any firm offer of financing remains subject to the successful completion of legal and technical due diligence and Macquarie's receipt of all required internal approvals.
Nick Ingrassia, CEO of Seascape, commented:
"Macquarie Bank has a long history of deploying capital to support growth-focused E&P companies like Seascape. We are extremely pleased they have committed to work with us to secure financing to develop these important gas projects to secure domestic supply into Malaysia and regional export markets."
Enquiries: Seascape Energy Asia plc IR@seascape-energy.com James Menzies (Executive Chairman) Nick Ingrassia (Chief Executive) Pierre Eliet (Executive Director) Stifel (Nomad and Joint Broker) Tel: +44 20 7710 7600 Callum Stewart Jason Grossman Ashton Clanfield SNELSeascape@Stifel.com Cavendish Capital Markets Limited (Joint Broker) Tel: +44 20 7397 8900 Neil McDonald Pete Lynch
Cleaned text: letterheads, contacts and legal notices removed. View the original announcement ↗ · Company filings. Not investment advice.