Singapore-based offshore player Yinson Production, through its newly set up UK-based Yinson Production Offshore Holdings, has inked an agreement with a consortium to issue $1bn worth of redeemable convertible preferred shares (RCPS).
The agreement also includes an issuance of 10% warrants at a post money valuation of $3.7bn.
There is also an option to issue additional RCPS of up to $500 million within 24 months from the initial issuance’s closing, subject to terms and conditions.
