bumi-pays-12-for-300-million-sevenyear-bond-issue

Bumi pays 12% for $300 million seven-year bond issue

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.

Bumi Resources took advantage of a barely open window late last week to raise $300 million through a seven-year deal. It was the fourth Indonesian coal miner to tap the dollar bond market in as many weeks, and Bumi was forced to pay a yield at the top of the range as investors began to take cover ahead of the year-end.

The deal, arranged by joint bookrunners Credit Suisse and Deutsche Bank, was priced late on Thursday November 5 New York-time, a day after the monthly meeting of the US Federal Open Market Committee FOMC, and a day before the closely watched US non-farm payrolls report. In addition, the leads were under pressure to...

¬ Haymarket Media Limited. All rights reserved.

FinanceAsia has updated its subscription model.

Registered readers now have the opportunity to read 5 articles from our award-winning website for free.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team (2-10 users), or office-wide licences.

To help you and your colleagues access our proprietary content, please contact us at subscriptions@financeasia.com, or +(852) 2122 5222

Article limit is reached.

Hello! You have used up all of your free articles on FinanceAsia.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team (2-10 users), or office-wide licences. To help you and your colleagues access our proprietary content, please contact us at subscriptions@financeasia.com, or +(852) 2122 5222