JAKARTA (Yosefardi) – Coal producer PT Berau Coal Energy Tbk (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.
BRAU plans to issue global bonds worth US$450 million, used to refinancing its existing bonds. The bonds will have tenor of 5 years and offer annual coupon of 12%.
As at March 2014, BRAU’s liability amounted US$1.91 billion while its assets totaled US$1.95 billion.
BRAU suffered loss of US$7.79 million in first quarter of this year, narrowed from loss US$36.39 million in the same period of last year. Sales increased 8.4% to US$373.29 million from previous US$344.85 million.