Singapore-based petrochemicals, green energy and natural resources conglomerate ChemOne Group, has signed a binding definitive facility agreement with MUFG Bank (Malaysia) Berhad, a part of leading global financial services group, MUFG (Mitsubishi UFJ Financial Group) for the Pengerang Energy Complex (PEC).
A key part of the PEC project finance package is a US$300m non-recourse receivables purchase facility to discount invoices of finished product sales to offtakers. The signed facility agreement with MUFG confirms its participation for US$200m under this facility. Furthermore, there is a US$100m accordion option available under this facility.
