Berau Issues Dollar Bonds Worth US$450 million
7 August 2014 14:44 WIB
TEMPO.CO, Jakarta - PT Berau Coal Energy Tbk plans to issue US dollar-denominated bonds with a principal amount of US450 million on August 13, 2014. The amount equals to more than 50 percent of the company's total equity as per December 2013.
The bond issuance proceeds will be used to repay the company's US$450 million debt that will mature on July 8, 2015.
Berau president director Amir Sambodo told reporters yesterday that the bonds will be listed on the Singapore Exchange (SGX). Berau has appointed Barclays, Citigroup, and Standard Chartered Bank as initial purchasers that will resell the bonds to investors.
The bonds will mature five years after its issuance. Interest rates are set at 12 percent per year and will be paid every six months.
DEWI SUCI RAHAYU