PT Bumi Resources Tbk offer US$300 million convertion bonds with tenor 5 years and coupon 5%. The company pick Credit Suisse to handle this transactions become a book runner. The notes can convert to Bumi shares with premium price.
Bumi is estimated to spend US$290.32 million-US$293.25 million to buy a 10% stake in Newmont, which is the consequence of its majority shares in Multi Capital Indonesia.
Referring to the company's financial statement, the transaction value is considered material, so that Bumi is required to hold an Extraordinary Shareholders' General Meeting (RUPSLB) to ask for approval from its public shareholders.
Corporate Secretary of Bumi Dileep Srivastava in his explanation to Indonesia Stock Exchange (BEI) last week disclosed the company through PT Bumi Resources Investment at the moment had more than a 99% indirect equity through Multi Capital.
However, Bumi is not the one bound in the sales and purchase agreement and has no responsibility to meet the liabilities of PT Multi Daerah Bersaing as the buyer.
Previously, Bakrie Group through Bakrie Capital is touted to control a 95% stake in Multi Capital, while Bumi commands the rest 5% stake. Multi Capital controls a 75% stake in Multi Daerah, a joint company
Referring to the company's financial statement, the transaction value is considered material, so that Bumi is required to hold an Extraordinary Shareholders' General Meeting (RUPSLB) to ask for approval from its public shareholders.
Corporate Secretary of Bumi Dileep Srivastava in his explanation to Indonesia Stock Exchange (BEI) last week disclosed the company through PT Bumi Resources Investment at the moment had more than a 99% indirect equity through Multi Capital.
However, Bumi is not the one bound in the sales and purchase agreement and has no responsibility to meet the liabilities of PT Multi Daerah Bersaing as the buyer.
Previously, Bakrie Group through Bakrie Capital is touted to control a 95% stake in Multi Capital, while Bumi commands the rest 5% stake. Multi Capital controls a 75% stake in Multi Daerah, a joint company
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