JAKARTA (Yosefardi) – Investors focused buying shares of giant coal producer PT Bumi Resources Tbk (BUMI), lifting the stock by 3.45% to Rp90 per share at early trading this morning.
Investors responded positively the extension of debt payment granted to BUMI’s subsidiaries in Singapore.
BUMI has also confirmed that its wholly owned subsidiaries in Singapore (Bumi Capital Pte Ltd, Bumi Investment Pte Ltd, Enercoal Resources Pte Ltd) have obtained a five-months extension from the Singapore High Court for debt moratorium to 24 October 2015.
This will facilitate the on-going efforts to restructure the debt obligations of Bumi and its subsidiaries, BUMI said.
Bumi Capital has US$300 million 12% guaranteed senior secured notes, Bumi Investment has US$700 million 10.75% guaranteed senior secured notes, and Enercoal has US$375 million 9.25% guaranteed convertible bonds.