KPC kicks off bond roadshow Thursday
Thursday, April 29 2004 - 12:04 AM WIB
East Kalimantan coal miner PT Kaltim Prima Coal (KPC) would launch bond roadshows on Thursday to sell US$375 million of floating rate notes and fixed rate bonds, banking sources were quoted by agencies.
The sources said the roadshow would begin in Hong Kong and then to Singapore before moving to Europe and USA. The roadshow will last for two weeks with pricing expected second week of May.
Kaltim Prima plans to sell the bonds in two tranches; floating-rate tranche that matures in 2007 and a fixed-rate tranche due 2009. Rating agency Standard & Poor's has assigned a B-plus rating to the issue.
KPC is fully owned by Bumi Resources, which is controlled by Bakrie family.(*)