Oct 1, 2010

BUMI upsizes bonds to US$700 mio

Bumi Investment Pte Ltd, wholy owned subsidiary of PT Bumi Resources Tbk, Indonesia's largest coal mining, last night upsized bonds issuance to US$700 million.
A source familiar with the matter said the company's 7 year bonds offer an annual coupon at 10.75%. Three lead managers of the issuance were Credit Suisse, Deutsche Bank, and JP Morgan. The bonds will mature on 6 October 2017.
In line with bonds issuance, Bumi Resources announced that it has concluded the non preemptive issuance of 1.37 billion ordinary shares at an issue price of Rp2,366/share, amounting to US$360 million as well.
In a press statement published at the company's website, Bumi President Director Ari S. Hudaya said the company will disclose the names of the counterparties on 4 October 2010 and list the new shares on the Indonesian Stock Exchange as per regulation and announced timetable.
The total number of outstanding shares of the company will consequentially increase to 20.77 billion on 5 October 2010.

Disclosure: No position at the stock mentioned above.

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