Malaysia-listed oil and gas company Daya Materials (Daya) has secured a novation agreement with Norway-based Siem Offshore for a dynamic positioning class 2 offshore subsea construction vessel at cash consideration of USD90 million.
The novation agreement was signed by its wholly owned subsidiary Daya Global.
Daya will finance the vessel with the issuance of ringgit-denominated bonds equivalent to USD30 million, apart from the cash consideration of USD90 million.
The company has secured a USD80 million loan to finance the majority of the purchase.
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This post was sourced from IHS Maritime 360: View the original article here.