Permian Global - Vitol Asia loan (Jun 2023)

Terms

Announced

9 Jun 2023

Instrument

Debt

Amount

Undisclosed

Source

find-and-update.company-information.service.gov.uk

Parties

Project developer

Permian Global

Country

United Kingdom

Capital providers

Capital providers and the amount counted for each

Party	Role	Amount	Basis
Vitol Asia Pte Ltd	Lender	Undisclosed	No value disclosed

Carbon

Pathway

Unresolved

Structure and cover

Structure flag

Plain loan

What happened

A debenture (Companies House charge 0604 0296 0003, dated 9 June 2023, satisfied 1 July 2024) granted by Permian Global Research Limited secures a loan facility from Vitol Asia Pte Ltd. The facilities agreement is not on the public record, so the amount, tenor and pricing are undisclosed. The security is an all-assets floating charge with a negative pledge, plus assignment of two project contracts: a loan agreement between PT Nusa Hijau Makmur and Permian Global Research Limited, and a voluntary emission reductions framework agreement with Permian Malaysia Sdn. Bhd. The charge was released about a year after it was granted.

Kumo note

Registry-sourced: a debenture filed at Companies House (charge 0604 0296 0003, dated 9 June 2023, satisfied 1 July 2024) secures a loan facility from Vitol Asia Pte Ltd to Permian Global Research Limited (the facilities agreement is not on the public record, so the amount, tenor and pricing are undisclosed, and the charge was released about a year after it was granted). The lender took an all-assets floating charge and a negative pledge, plus assignment of two of Permian's project contracts (a loan agreement between PT Nusa Hijau Makmur and Permian Global Research Limited, and a voluntary emission reductions framework agreement with Permian Malaysia Sdn. Bhd.), so the security sat over the developer's project contracts rather than issued credits.

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