PT Bumi Resources Tbk has prepared bond issuance worth US$300 million-US$400 million assisted by Credit Suisse and JP Morgan Securities as the underwriters. The fund tapped from the issuance will be allotted to support the financing of PT Recapital Advisors in the acquisition of 90 percent shares of PT Berau Coal worth US$1.52 billion.
Senior Vice President of Investor Relations of Bumi Dileep Srivastava via public expose of Bumi Resources to the Indonesia Stock Exchange (IDX) January 11, said the financing sources to help Recapital acquire Berau comes from bonds, bank loan, and other financing facilities.
Bumi is expected to become an exclusive marketing agent for Berau Coal. Recapital Advisors, through its subsidiary firm PT Bukit Mutiara, finalized the transaction of 90 percent stock acquisition of Berau Coal holding firm, the fifth largest coal producer in Indonesia, worth US$1.52 billion or IDR14.29 trillion.
Bukit Mutiara will later have a Regulus International (SG) controlling 100 percent of Maple (Labuan) stocks which will become Berau's coal marketing agent.
Along with the process, Y.A. Didik Cahyanto was appointed as the CEO of Berau to replace Bob Kamandanu. Meanwhile, John Ramos who was formerly the corporate finance of Recapital was assigned as the Finance Director of Berau Coal.
Rosan, Bob Kamandanu and Subagyo HS filled the boards of directors post for Berau Coal.
Some 51% percent Berau shares are owned by PT Armadian Tritunggal, a company with almost fully acquired by Rizal through PT Risco, and Rognar Holding B.V. owns 39 percent shares.
Armadian also owns 12.8 percent of Rognar directly. Later, PT Risco acquires 87.2 percent of Rognar shares through Winchester (Seychelles) and Aries (Malta).
Along with the acquisition of Berau Coal, Recapital reviewed the IPO plan of Armadia.
Berau eyes on coal production volume by 17 million tons this year or rose 3 million tons as from last year production.
Along with the process, Y.A. Didik Cahyanto was appointed as the CEO of Berau to replace Bob Kamandanu. Meanwhile, John Ramos who was formerly the corporate finance of Recapital was assigned as the Finance Director of Berau Coal.
Rosan, Bob Kamandanu and Subagyo HS filled the boards of directors post for Berau Coal.
Some 51% percent Berau shares are owned by PT Armadian Tritunggal, a company with almost fully acquired by Rizal through PT Risco, and Rognar Holding B.V. owns 39 percent shares.
Armadian also owns 12.8 percent of Rognar directly. Later, PT Risco acquires 87.2 percent of Rognar shares through Winchester (Seychelles) and Aries (Malta).
Along with the acquisition of Berau Coal, Recapital reviewed the IPO plan of Armadia.
Berau eyes on coal production volume by 17 million tons this year or rose 3 million tons as from last year production.
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