buma

A rally in the price of coal and the chance of credit upgrades ensured the Indonesian miner got a warm welcome from global bond investors.

The coal mining group gets a warm welcome as the recovery in commodity prices helps bond investors to look beyond the recent default of key customer PT Berau Coal Energy.

Bumi Resources is the latest Indonesian coal miner to tap the dollar market, finding a gap through which to launch a high-yield bond late last week.

Indonesia's state-owned electricity company issues a 10-year US dollar bond for the second time in three months.

Indonesian mining contractor Buma pays 11.75% for a five-year issue and raises additional funding from a syndicated loan, while fellow Indonesian coal miner Indika prices its $230 million bond with a 9.75% coupon.