PETALING JAYA: Bumi Armada Bhd’s unit Armada Kraken Pte Ltd has bagged a syndicated term-loan facility and a standby letter of credit facility worth US$755mil (RM2.88bil).
The company said in a filing with Bursa Malaysia that the loan facility was to partially finance and reimburse costs and expenses, including conversion, refurbishment, mobilisation, transportation, hook-up, mooring and installation of the Armada Kraken floating production, storage and offloading vessel (FPSO), together with all ancillary and related works pursuant to the bareboat charter.