Singapore's SembCorp subsidiary gets $500 million revolver

Chicago, June 4 – Sembcorp Marine Ltd.’s wholly-owned subsidiary Estaleiro Jurong Aracruz Ltda entered into a revolving credit facility for $500 million with Standard Chartered Bank (Singapore) Ltd. acting as original lender, arranger and agent.

Noted in the announcement regarding the revolver was that the agreement includes a change-of-control condition.

The change of control includes an event where Sembcorp Industries Ltd. ceases to be majority shareholder of the company.

As of the date of the announcement, the level of loan and trade facilities of the group that may be affected by the occurrence of a change of control amounts to approximately S$6.03 billion.

SembCorp Marine is a Singapore investment holding company engaged in business globally through shipyards.

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