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.
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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
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