JAKARTA (Yosefardi) – Coal miner PT Berau Coal Energy Tbk (BRAU) plans to launch tender offer for buying back its bond worth Rp12.35 trillion.
The bonds consist of Guaranteed Senior Secured Notes US$450 million (Rp5.85
trillion), issued by Berau Capital Resources Pte Ltd, and Guaranteed Senior Secured Notes US$500 million (Rp6.5 trillion), issued by BRAU.
The tender offer starts today and will last in December 16, 2015, aiming to improve BRAU’s financial structure.
BRAU has spent US$1.29 million for exploration activities in January-August 2015 period. The exploration consists of Sambarata Block B East and Binungan Block 8. It targets to spend US$5 million for exploration this year, also for Sumbarata Block B West.