Bumi Armada active, falls 3.70% on refinancing corporate debts

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KUALA LUMPUR (April 25): Shares in Bumi Armada Bhd fell 3.70% in active trade this morning after the group refinanced its unsecured term loans of US$380 million (RM1.57 billion) and revolving credit facilities of US$280 million into a single facility consisting of Tranche 1 facility of US$260 million, and Tranche 2 facility of US$400 million.

At 9.10am, Bumi Armada fell 1 sen to 26 sen with 79.11 million shares traded.

The offshore energy facilities and services provider said the loans will be repayable over two and five years respectively, from the closing date of the facility agreement.