Buma to issue US$600 million bonds

Coal mining contractor company, PT Bukit Makmur Mandiri Utama (Buma), plans to issue bonds and loan combination worth totally US$600 million.
Buma, which was established by the Johan Lensa, is deemed the second largest coal contractor in Indonesia with last year market shares of 19.2 percent.
Buma currently is in the process of backdoor listing by being acquired by PT Delta Dunia Property Tbk worth US$550 million. As from the figure, some US$240 million is deemed the acquisition value of Buma and the rest is debt takeover.