According to Sembcorp, it will use the facility for general corporate purposes including refinancing, capital expenditure, working capital, equity investments, and funding mergers and acquisitions in China.
The country is said to be a key market for Sembcorp, with the group seeing attractive opportunities in the renewable sector there.
The establishment of this offshore RMB facility enhances the group’s capital base to fund its growth, says Sembcorp.
As at 9.13am, shares in Sembcorp are trading 1 cent higher or 0.19% up at $5.41.
