Bumi seeks to extend maturity of $375m bonds

By Ruli Setiawan

IDX-listed coal miner PT Bumi Resources announced on Tuesday that it together with its Enercoal Resources have appointed Deutsche Bank AG as the sole solicitation agent in connection with a potential consent solicitation in respect of the US$375 million, 9.25% Guaranteed Convertible Bonds which fall due in August 2014.

Bumi and Enercoal intend to solicit consents to extend the maturity of the bonds beyond the current maturity date, among other things. The companies expect to launch a formal consent solicitation with further details in due course, the firm said in a statement.

The effort is ?part of its ongoing refinancing process?, the firm said.

Enercoal is a subsidiary of Bumi, based in Singapore.

Editing by Johannes Simbolon