Bumi to issue $600m structured notes
Friday, June 24 2005 - 03:00 AM WIB
Giant coal miner PT Bumi Resources has accepted bids from international investors for its planned US$600 million structured notes.
The firm said in a statement on Thursday that the 7-year notes with a yield of 7.134 percent would be used to re-finance the debts owed by its subsidiaries: PT Arutmin Indonesia and PT Kaltim Prima Coal.
The notes have received a BBB- rating from Fitch. It is the first international guarantee agreement to be secured by an Indonesian company since the economic crisis hit Asia in 1997. (*)