Dec 13, 2010

Bukit Makmur buys US$302 mio bonds

Prime Dig Pte had obtained consent from bond holders representing 96.08% of its $315 million or US$302.64 million bonds due November 2014 as of its early consent deadline of 5:00 p.m. New York city time on Dec 10.
As announced at Indonesia Stock Exchange (IDX) today, Enough consents have been received to change some of the securities' covenants and repay a US$285 million loan owed to Sumitomo Mitsui Banking Corp by entering into a new credit facility.
The tender offer will expire at 11:59 p.m. New York city time on Dec. 27, the statement said.  Prime Dig is wholly owned subsidiary of PT Bukit Makmur Mandiri Utama (BUMA), Indonesia's second largest coal mining contractor.
BUMA is wholly owned by PT Delta Dunia Makmur Tbk (DOID). DOID is stagnant at IDR1,370 per share.

Disclosure: No position at the stock mentioned above.

Print This Article

No comments: