OMS Group secures USD $292.5 million syndicate deal for expansion

OMS Group has signed a syndicated facilities agreement worth USD $292.5 million with a consortium of financial institutions, including HSBC, Affin Bank Berhad, Affin Hwang Investment Bank Berhad, BDO Capital & Investment Corporation, E-Sun Commercial Bank, and SinoPac. The agreement was facilitated by KKR Capital Markets. 

The agreement is designed to enable OMS Group to expand its fleet and enhance its expertise in subsea telecommunications. With the increasing global demand for reliable underwater communications infrastructure, this financial support is projected to significantly enhance the company's ability to meet market needs.

Datuk Lim Soon Foo, Chairman of OMS Group, described the agreement as a pivotal moment for the company. “This agreement marks a monumental step for OMS Group as we continue to scale our operations globally. We are proud to work with such esteemed financial institutions, this will undoubtedly reinforce our position in the industry. It’s a testament to our commitment to excellence and innovation in the subsea telecommunications industry,” he stated.

Ronnie Lim, CEO of OMS Group, emphasised the agreement's importance for the company’s growth strategy. He said, “The support we have received is crucial for our growth strategy. This deal not only enhances our capability to serve a global clientele but also positions Malaysia as a central hub in subsea digital infrastructure. We are excited about the opportunities this will bring, and we are dedicated to leveraging these resources to deliver cutting-edge solutions to our customers.”

Christina Cheah, Head of Global Banking at HSBC Malaysia, highlighted the collaborative nature of the transaction. “The deal recently executed in Singapore to support the growth of OMS Group's fleet of vessels represents a natural extension of a strong relationship that we already have with the client in Malaysia. 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,” she said.

Datuk Wan Razly Abdullah, President & Group Chief Executive Officer of Affin Bank Berhad, expressed enthusiasm for supporting OMS Group's expansion plans. “We are delighted to embark on this journey with OMS Group to support their expansion plans. The syndicated facilities underscore our dedication to fostering growth and innovation, aligning with our aspiration to become the Most Creative and Innovative Financial Company,” he commented.

OMS Group’s expansion is anticipated to generate several opportunities within the subsea telecommunications industry, contributing to economic growth and technological advancement. The company has committed to providing high-quality subsea digital infrastructure solutions tailored to the evolving needs of the global market.