Billionaire Ananda Krishnan's Bumi Armada near RM2bil loan deal


Amid a management reshuffle, 1MDB missed a payment on RM2bil bridge loan that was due end-December to local lenders. That hit its bonds and fuelled broader investor concerns about Malaysia

KUALA LUMPUR: Malaysian billionaire T. Ananda Krishnan’s Bumi Armada Bhd is nearing an agreement for a loan of around RM2.034bil, sources said, in a deal that will give the embattled energy firm more time to restructure.

Banks are finalising details of a five-year credit facility, according to the people, who asked not to be identified because the information is private. The funds will be used to refinance existing debt that matures in May and for working capital, one of the people said.

Get 30% off with our ads free Premium Plan!

Monthly Plan

RM13.90/month
RM9.73 only

Billed as RM9.73 for the 1st month then RM13.90 thereafters.

Annual Plan

RM12.33/month
RM8.63/month

Billed as RM103.60 for the 1st year then RM148 thereafters.

1 month

Free Trial

For new subscribers only


Cancel anytime. No ads. Auto-renewal. Unlimited access to the web and app. Personalised features. Members rewards.
Follow us on our official WhatsApp channel for breaking news alerts and key updates!

Anand Krishnan , Bumi Armada , oil , gas , loan , deal , shares , energy ,

   

Next In Business News

MRCB drops 3.88% after withdrawing from KL-SG HSR bidding consortium
5G remains the focus for telco in 2024
Indonesian arm of Malaysia's Mr DIY drops on market debut
Advancecon shares dip 2% despite securing RM417.7mil contract
YTL Power, YTL Corp surge as MACC clears group of wrongdoing in 1BestariNet probe
Winstar Capital surges 40% on ACE Market debut
Bursa Malaysia opens lower, tracking Wall Street’s slump
Ringgit slips 0.4% against US dollar, opens mostly higher against other basket of currencies
Trading ideas: MRCB, BCorp, WTK, YTL Power, Advancecon, Scientex, SD Guthrie, Eco World Development
CIMB Bank, PayNet launch first payment infrastructure

Others Also Read