Bumi Armada secures debt extension


The offshore energy facilities and services provider said the facility agreement signed on April 24,2019, had been amended to extend the final maturity date for the tranche to Nov 23,2022.

KUALA LUMPUR: Bumi Armada Bhd has secured an extension of the final maturity date for tranche one, consisting of US$260mil (RM1.05bil), which is under the term loan facilities worth US$660mil (RM2.67bil).

The offshore energy facilities and services provider said the facility agreement signed on April 24,2019, had been amended to extend the final maturity date for the tranche to Nov 23,2022.

The final maturity date for tranche two (US$400mil or about RM1.62bil) remains unchanged at May 23,2024.

“The revision takes into consideration the impact of the Covid-19 pandemic and the resulting significant slowdown in global business activities, which have in turn impacted the progress of Bumi Armada’s monetisation initiatives. — Bernama

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Bumi Armada , monetisation , loan

   

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