Arutmin to issue $300 million bonds for debt refinancing

East Kalimantan-based coal producer PT Arutmin Indonesia plans to issue bonds worth about US$300 million to raise fresh funds for the refinancing of the company?s debts, Bisnis Indonesia reported on Friday.

Arutmin, a subsidiary of PT Bumi Resources Tbk, has assigned local security company PT Trimegah Securities to prepare and arrange the bond offering, a source said, adding that the US dollar denominated bond will be traded on both Jakarta and Surabaya stock exchanges.

When asked to confirm about the bond offering plan, chief financial officer of Bumi Resources, Eddy J. Soebari said that the final decision on the plan to offer the bonds had not been made. ?It is still part of considerations that could be taken for debt refinancing,? he said. (*)