ARMADA

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OTHERS BUMI ARMADA BERHAD - USD30 MILLION TERM LOAN FACILITY FROM PACIFIC MEZZANINE CAPITAL (JERSEY) LIMITED

BUMI ARMADA BERHAD

Type Announcement
Subject OTHERS
Description
BUMI ARMADA BERHAD
- USD30 MILLION TERM LOAN FACILITY FROM PACIFIC MEZZANINE CAPITAL (JERSEY) LIMITED

Bumi Armada Berhad ("BAB") refers to its previous announcements on 26 September 2019 and 14 September 2022, regarding the 3-year term loan facility of up to USD30 million made available to Bumi Armada 98/2 Holdings Pte. Ltd. ("BA98/2"), wholly owned subsidiary of BAB ("BA98/2 Facility"), to fund the Company’s 30% equity interest in a joint-venture project with Shapoorji Pallonji Oil & Gas Pte. Ltd., in connection with the charter and operation of a floating production storage and offloading facility for deployment at NELP Block KG - DWN 98/2 Development Project Cluster-II field located on the east coast of Kakinada, offshore India. 

 

The BA98/2 Facility, previously made available to BA98/2 from Mezzanine Equities N.V. ("MENV"), was novated to Pacific Mezzanine Capital (Jersey) Limited ("PMC") on 30 March 2023. Both MENV and PMC are wholly-owned subsidiaries of Usaha Tegas Sdn Bhd, a major shareholder of BAB.

 

BAB wishes to announce that the BA98/2 Facility was amended on 24 August 2023, to extend the final repayment date from 22 September 2023 to 24 September 2024.

 

The BA98/2 Facility extension is not expected to have any material effect on the earnings and net assets of BAB Group for the financial year ending 31 December 2023.

 

The Board of Directors of BAB is of the opinion that the extension of the BA98/2 Facility is in the best interest of the Company.

 

This announcement is dated 28 August 2023. 






Announcement Info

Company Name BUMI ARMADA BERHAD
Stock Name ARMADA
Date Announced 28 Aug 2023
Category General Announcement for PLC
Reference Number GA1-28082023-00080