Berau to issue $450m bonds
Friday, June 20 2014 - 01:04 AM WIB
IDX-listed coal miner PT Berau Coal Energy Tbk plans to issue global bonds worth US$450 million to refinance maturing bonds also worth $450 million, Investor Daily reported on Friday.
The company will hold an extraordinary shareholders meeting on July 21, 2014 to seek approval for the planned bonds issuance, said Eko Santoso Budianto, President Director of the company, in a statement.
Berau, Indonesia?s fifth largest coal miner, is 84.74 percent controlled by LSE-listed Asia Resource Minerals Plc.
Earlier in March, the company reportedly planned to issue $500 million worth of global bonds in June of this year. (*)