Tag: bumi

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. China's sovereign wealth fund will buy $1.9 billion of high-yield debt in Indonesian coal miner Bumi Resources. Bakrie & Brothers president director Nalin Rathod has the strength and flexibility to tackle the complexities of Indonesia's corporate landscape. The first Indonesian CB this year meets sufficient demand to warrant the deal to be upsized to nearly double the original offering. A lack of details about Bakrie's sale of its 35% stake in Bumi Resources suggests that the contest has barely started. Bumi succeeds in securing a 51% stake in the Australian lead and zinc miner after competing bidder Antam withdraws. The board of Herald Resources tells shareholders to resolve the impasse between Bumi and the Antam-Zhongjin consortium, as both bidders offer $530 million for the Australian ... The Antam-Zhongjin consortium trumps Bumi's bid with an offer of up to $500 million for the Australian mining company and secures the backing of Herald's board. The Indonesian mining company offers $495 million for Herald, 2% more than the competing offer on the table, in a bid partly financed by debt from a consortium led by Credit ... An Indonesian-Chinese partnership offers $448 million for Australia's Herald Resources, trumping Bumi’s offer by 11%. Australian mining company Herald Resources advises its shareholders to accept a bid from Indonesia's Bumi despite deeming the $392 million offer too low. Herald continues to ... The Indonesian company attempts to diversify its business, but Herald advises shareholders to take no action. Days after Bumi Resources announces it is selling two key mines, it confirms merger plans with Energi Mega Persada. PT Bumi Resources sells its prized coal mines. Merger plans are likely for the two Bakrie Group-affiliated companies.