Merrill places $325 million for Berau Coal

The Indonesian coal producer prices a dual tranche debt offering at the tight end of revised guidance.

Sole bookrunner Merrill Lynch has priced a dual tranche $325 million fund raising exercise for Indonesian coal interest Berau Coal. The deal, launched in late November, consists of a $225 million five-year non-call three fixed-rate tranche and a $100 million amortising five-year FRN. Both tranches priced at the tight end of revised guidance.

Merrill initially marketed the deal at 9.75% for the fixed-rate notes and 400bp over Libor for the FRN, however, as the deal picked up traction,...

To continue reading, please login or register for free

Click for more on: debt | merrill | lynch | fixed income | resources

Print Edition

FinanceAsia Print Edition

CONFERENCES

  • 2nd Compliance Summit Southeast Asia

    17 August 2017  |  Singapore
    The 2017 Compliance Summit Southeast Asia will take an in-depth look at the key compliance considerations today with a focus on regulation and new ...