Hibiscus says the funds will be used primarily to drive the group’s organic growth plans for its current producing and development assets, as well as for working capital.
PETALING JAYA: Hibiscus Petroleum Bhd
, via its direct wholly-owned subsidiary Asia Hibiscus Sdn Bhd, has entered into its maiden long-term debt facility agreement for a total of US$120mil (RM553.7mil).
The deal was signed yesterday with four banks – HSBC Bank Malaysia Bhd, Bank of China Malaysia Bhd, Industrial and Commercial Bank of China (M) Bhd and Standard Chartered Bank Malaysia Bhd.
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