JAKARTA (Yosefardi) – Coal producer PT Berau Coal Energy Tbk (BRAU), through its unit Berau Capital Resources Pte Ltd, will issue bonds worth US$450 million, to carry coupon of 12.5% and will mature in July 8, 2015.

The bond issue is scheduled for August 13, 2014. The proceeds will be used to refinance its existing bond scheduled to mature next year.

As at March 2014, BRAU’s liability amounted US$1.91 billion while its assets totaled US$1.95 billion.

BRAU targets to book revenues of US$1.4 billion this year, compared to US$1.42 billion last year, with coal prices expected to reach US$55-56 per ton.

The company booked revenues of US$579 million as of May this year, with coal production amounting 10.15 million tons. It targets to produce 23.5 million tons of coal this year.