Aug 6, 2010

Bukit Asam considers Rp1.5 trio bond

Indonesia's coal mining player PT Tambang Batubara Bukit Asam Tbk (PTBA) plans to issue Rp1.5 trillion to Rp3 trillion bond in the first half 2011.
Bukit Asam Finance Director Dono Boestami said the proceed will be used to underpin business expansion and capital expenditure.
"Besides the bond issuance, we also seek bank loan facility for capital expenditure in 2011," he said.
PT Bank Mandiri Tbk (BMRI), PT Bank Rakyat Indonesia Tbk (BBRI), and PT Bank Negara Indonesia Tbk (BBNI) have committed to provide the facilities.
Bukit Asam requires US$350 million financing to underpin several projects until 2014. "We will use combination of internally generated cash, bond, and bank loan facities," he said.
Bukit Asam also aims to acquire one or two coal mining companies in South Kalimantan this year. It allocates Rp1 trillion for the acquisition.

Disclosure: No position at the stock mentioned above.  

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