Bumi Resources issues carbon copy CB

The coal miner raises $150 million from an upsized deal despite the volatile credit market and an outstanding CB that is cheaper.

IndonesiaÆs largest thermal coal producer, PT Bumi Resources, has raised $150 million from the sale of an upsized convertible bond that will make use of the remaining Treasury shares on its books and raise fresh cash to cover pre-mining development and exploration costs at four of its mining concessions.

The deal comes less than three months after the company completed a $300 million CB transaction and, given the current pressure on the credit markets, it seems the coal miner decided...

To continue reading, please login or register for free

Click for more on: convertible | coal | energy | credit suisse

Print Edition

FinanceAsia Print Edition