JAKARTA (Yosefardi) – Coal miner PT Borneo Lumbung Energi & Metal Tbk (BORN) mulls some options to settle its US$800 million debt which will mature in 2019.
BORN has since early this year restructured US$1 billion loan to Standard Chartered Bank, which is extended to 2019 for the settlement.
The company also plans to offer 4% new shares through private placement scheme. It also plans to sell its heavy equipment assets. BORN will use US$112 million dividend from transaction for separation of between Bakrie Group and Asia Resources Minerals Plc for debt payment.
BORN has also talked with First Gulf Bank to change the US$350 million loan scheme from short term loan working capital to long term loan (5-7 years).