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Sovereign Wealth Funds Briefing - Categorized | Asset Allocation, Financials, Market

China’s CIC to convert some debt into stakes in Bumi mining group

Posted on 10 October 2013

Indonesia’s PT Bumi Resources said on Wednesday China’s sovereign wealth fund, China Investment Corp (CIC), has agreed to convert part of an outstanding $1.3 billion loan into stakes in the miner’s PT Bumi Resources Minerals unit, its coal mines and a small stake in Bumi Resources itself.
“PT Bumi Resources Tbk announces that it has entered into an agreement to settle $1.3 billion principal amount of its remaining debt with China Investment Corp,” it said in a statement………………………………………..Full Article: Source


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