KUALA LUMPUR, Aug 13 (Reuters) - A unit of Malaysia's BumiArmada Bhd will set up a $1.5 billion multi-currencyeuro medium term note programme to finance the oil and gasservice firm's capital expenditure and other financingrequirements.
The debt programme will help Bumi Armada Capital OffshoreLtd tap international debt markets and provide flexibility inraising funds in variety of tenors and currencies, Bumi Armadasaid in a statement to the stock exchange on Tuesday.
The net proceeds raised from each issue of notes will alsofinance start-up and investment costs for Bumi Armada's projectsand refinance existing debt, the firm said.
Joint arrangers for the programme are HSBC, Merrill Lynchand Oversea-Chinese Banking Corporation Limited, Bumi Armadasaid.
HSBC Holdings (HSBA)