The Kuala Lumpur-listed company is targeting MYR 1.5bn ($454m)from the sale of the paper more commonly known as sukuks.
Proceeds are earmarked for financing new projects, debtrefinancing and general corporate purposes, Bumi Armada said in a stockexchange filing today.
Bumi has been heavily linked with a $1.5bn FPSO contract inAngola which would mark its entry into the West African market.
It reportedly acquired a 15-year-old VLCC from InternationalTankers Corporation recently for around $24m.
The
