PETALING JAYA: Bumi Armada Bhd
and its wholly-owned subsidiary, Bumi Armada Capital Malaysia Sdn Bhd (BACM), have entered into documentation for the establishment of an unrated sukuk issuance programme of up to RM1.5bil in nominal value, under the syariah principle of murabahah.
Bumi Armada intends to use the proceeds of the programme to finance the capital expenditure, working capital, general funding, debt and other costs related to the company. It said that the programme would provide BACM with the flexibility to raise funds via the issuance of sukuk murabahah from time to time, with varying tenors.
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