Thai Banpu to issue 5 billion baht bonds

Thailand?s largest coal miner Banpu PCL said on Thursday it planned to issue and sell up to 5 billion baht ($121 million) of 10-year bonds to finance two investment projects.

Banpu said in a statement to Stock Exchange of Thailand that around 3 billion bath of the proceeds will be allocated for coal business, while the remaining proceeds will use to finance coal-fired power project.

The company said the bonds could be denominated in baht, US dollar and/or other foreign currencies and further details about the timing would be decided later.

Banpu operates six Indonesian coal mines, four which are already in production, that is Jorong Barutama Greston in South Kalimantan, Indominco Mandiri, Kitadin, and Trubaindo, which are all located in East Kalimantan. Meanwhile, two other coal mines are Bharinto in East Kalimantan and Barasentosa Lestari in South Sumatra.

Banpu recently sold its Mampun Pandan coal mine in South Sumatra for US$1.3 million. (Robert)