JAKARTA (Yosefardi) – Giant coal miner PT Bumi Resources Tbk has today paid outstanding coupon against its 2016 bonds within the cure period.
It said all consents from lenders to close the CIC transaction have been confirmed. BUMI paid debt of Rp1.7 trillion to China Investment Corporation (CIC) through Country Forest Limited, funded by rights issue proceeds of Rp6.5 trillion.
BUMI earlier said it will also pay debt of Rp1.7 trillion to Castleford Investment Holdings Ltd. It allocates Rp2.5 trillion for paying part of guaranteed convertible bond and other existing debt facilities.
BUMI targets to cut its debt by US$2 billion, equivalent Rp23 trillion.