Bumi Resources to issue bonds worth US$600 million
Monday, February 7 2005 - 03:54 AM WIB
PT Bumi Resources Tbk plans to issue bonds worth about US$600 million as part of the company's programs to refinance its existing debts, Bisnis Indonesia reported on Monday.
Bumi Resources' investor relations manager, Peter Tabalujan, confirmed in Jakarta on Saturday about the company's bond offering plan, saying that the issuance of bonds was under preparation.
He said that Bumi Resources had appointed Merril Lynch as the main underwriter of the bond offering. "We have not yet decided the exact value of funds to be raised from the bond offering. We are still waiting for the rating from Fitch," he added.
Bumi Resources had earlier said that it would raise funds from bond offering to finance its oil exploration activities in Yemen. The company also operates massive coal mining in Indonesia through its subsidiaries. (*)