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Treasury & Capital Markets
OMS Group gets US$292.5 million loans for fleet expansion
Subsea cable service provider beefs up capability to meet rising global demand
The Asset 24 Jun 2024

OMS Group, a provider of undersea cable construction services based in Kuala Lumpur, Malaysia, has secured loan facilities worth US$292.5 million from a consortium of financial institutions comprising HSBC, Affin Bank, Affin Hwang Investment Bank, BDO Capital & Investment Corporation, E-Sun Commercial Bank and SinoPac, with KKR Capital Markets facilitating the deal.

Proceeds from the loans will be used to expand the company’s fleet and continue building its expertise in subsea telecommunication to meet the increasing global demand for underwater communications infrastructure.

“This deal not only enhances our capability to serve a global clientele but also positions Malaysia as a central hub in subsea digital infrastructure,” says OMS Group chief executive officer Ronnie Lim.

Christina Cheah, head of global banking at HSBC Malaysia, adds: “Through the cross-border collaboration between our offices in Singapore and Malaysia, the transaction demonstrates how we can support clients with their expansion efforts by leveraging the strength of our international network and connecting them to greater opportunities.”

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