KUALA LUMPUR (Jan 7): Petronas Gas Bhd secured a US$500 million (RM2.21 billion) loan from Mizuho Bank Ltd to finance the oil and gas entity's capital expenditure.
In a statement to Bursa Malaysia today, Petronas Gas said it signed the facility agreement with Mizuho Bank Ltd, Mizuho Bank Ltd Labuan Branch and Mizuho Bank (M) Bhd.
"The facility shall have a tenure of five years from the first drawdown and is expected to be used to finance PGB (Petronas Gas) and/or its subsidiaries’ general corporate funding purposes, including, but not limited to, capital expenditure.
"None of the directors and/or major shareholders of PGB or persons connected to such directors and/or major shareholders of PGB have any interest, direct or indirect, in the above said matter," Petronas Gas said.
At 12:30pm, Petronas Gas shares settled flat at RM21.98, for a market capitalisation of RM43.49 billion.
Petronas Gas shares had fallen 3% so far this year, compared with the FBM KLCI's 2% decline.
(Note: The Edge Research's fundamental score reflects a company’s profitability and balance sheet strength, calculated based on historical numbers. The valuation score determines if a stock is attractively valued or not, also based on historical numbers. A score of 3 suggests strong fundamentals and attractive valuations.)