Bumi raises 500m dollar in bonds issue
Coal miner Bumi says its subsidiary, Berau Coal, has raised 500m dollars through a five year bond issue.
Coal miner Bumi says its subsidiary, Berau Coal, has raised 500m dollars through a five year bond issue.
Berau operates three assets in Indonesia and the money will be used to expand capacity from 20m to 30m tonnes.
The interest rate on the bonds was 7.25% and the offer was 19 times over subscribed.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
![https://cdn.mos.cms.futurecdn.net/flexiimages/mw70aro6gl1676370748.jpg](https://cdn.mos.cms.futurecdn.net/flexiimages/mw70aro6gl1676370748-320-80.jpg)
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Bumi also recently completed a $600m refinancing deal with the China Development Bank at an interest rate of Libor +6.67% as it seeks to reduce its cost of capital.
BS
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
-
Skipton launches a retirement bond with monthly income – is it any good?
The building society has launched a new three-year fixed-rate bond for those aged 66 and over. Can it boost your retirement income?
By Katie Williams Published
-
Pensions: 140,000 pensioners to be hit by surprise tax demand
Tens of thousands of pensioners will be written to over the summer because their pensions have gone above the frozen income tax thresholds
By Chris Newlands Published