merrill-breaks-ground-with-coal-mine-financing

Merrill breaks ground with coal mine financing

The bank increases its involvement in the privately arranged deal for an Indonesian coal producer.
Merrill Lynch has put its own money to work alongside a couple of hedge funds in yet another highly structured equity deal, which will provide financing for an Indonesian coal mine at a time when global demand for this commodity continues to increase.

The $135 million transaction stands out not only because it was completed last week in the midst of one of the most volatile periods in Asian equity markets in recent years, but because it is a greenfield project that currently contains nothing more than the coal in the ground, a reserve report and a management team.

In an unusual move for an investment bank û especially in a deal it is structuring...
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