The top five largest coal producer in Indonesia PT Berau Coal cut down the offered global bonds value into US$400 million as from US$600 million. Berau will issue five years tenured bond.
The company with indirect control of Recapital Advisors here appointed Credit Suisse Group AG and Deutsche Bank AG as the underwriting arrangers.
The company with indirect control of Recapital Advisors here appointed Credit Suisse Group AG and Deutsche Bank AG as the underwriting arrangers.
Berau offered bond market with 12.5 percent coupon. Based on data, Berau has US$300 million bonds maturing this year. The bond issuance scheme here got B2 rating from the international rating company, Moody's Investors Service. This is the top five rating for non investment category.
The cut of bond issuance value opens possibility for Berau to get bank or other finance institution loans.
The company aims to rake US$100 million-US$300 million proceeds from IPO in August. Thus, Berau Energy aims to tap a total of US$900 million proceeds or equal to DIR8.28 trillion (US$1=IDR9,200).
Recapital Advisors through PT Bukit Mutiara with 99.6 percent possession completely possessesBerau Energy early this year with US$1.48 billion acquisition value. Berau Energy, formerly known as PT Risco, was the holding company of PT Armadian Tritunggal owned by the tycoon Ibrahim Risjad children, Selviya Risjad with 10 percent ownership and Rizal Risjad with 90 percent.
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