|By ACN Newswire||
|October 3, 2012 04:31 AM EDT||
This financing, in the form of a convertible loan to PT Wintermar Offshore Marine with an exercise price of 500 Indonesian rupiah per share, will strengthen the company's capacity to bid for several upcoming projects providing offshore vessels to support deepwater-drilling projects, particularly in the economically less developed regions of eastern Indonesia.
IFC's latest investment follows a $45 million loan provided in January to the Wintermar Group, the largest supplier of support vessels to Indonesia's oil and gas industry.
"We are strengthening our relationship with Wintermar, the largest Indonesian offshore supply vessels company and our valued partner," said Sergio Pimenta, IFC director for East Asia and the Pacific. "Our investment will assist the company's expansion in the remote areas in Indonesia and will help improve infrastructure services in the country."
Sugiman Layanto, managing director of PT WIntermar Offshore Marine Tbk, said: "Wintermar values IFC as a long-term investor who will support our company's strong growth in the coming years as we expand and upgrade our fleet to fulfill the high demand for offshore services in the energy sector in Indonesia and the Southeast Asian region. Having IFC as a partner further underpins our commitment to establishing Wintermar as a high-quality Indonesian company with an internationally competitive fleet and high standards of quality, safety and corporate governance."
IFC assists emerging markets in sustainable private-sector development. In recent years, Indonesia has boosted its natural gas reserves with several new discoveries in the eastern part of the country and along the borders with Australia, Timor-Leste and Papua New Guinea.
IFC, a member of the World Bank Group, is the largest global development institution focused exclusively on the private sector. We help developing countries achieve sustainable growth by financing investment, mobilizing capital in international financial markets, and providing advisory services to businesses and governments. In FY12, our investments reached an all-time high of more than $20 billion, leveraging the power of the private sector to create jobs, spark innovation, and tackle the world's most pressing development challenges. For more information, visit www.ifc.org.
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PT Wintermar Offshore Marine Tbk (WINS) is an offshore marine services company that owns a fleet of over 65 vessels ready to handle a large variety of marine support services required in upstream oil and gas exploration and production activities including transporting crew, equipment and supplies, as well as providing services such as anchor handling, towing, and mooring of offshore rigs. Our young and growing fleet, comprising a wide variety of vessel types, enables us to offer innovative vessel and logistics solutions to serve our client base of multinational oil and gas companies. In 2011, WINS became the first shipping company in Indonesia to be certified with Integrated Management System by Lloyds Register Quality Assurance, comprising ISO 9001:2008 (Quality), ISO14001:2004 (Environment) and OHSAS 18001:2007 (Occupational Health and Safety). For more information, please visit www.wintermar.com.
IFC Novita Wund Phone: +62-81-1840-0438 E-mail: NWund@ifc.org PT Wintermar Offshore Marine Tbk Pek Swan Layanto Phone: +62-21-530-5201 ext. 401 E-mail: firstname.lastname@example.org
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