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Sovereign Wealth Funds Briefing - Categorized | Financials

Bumi shareholders re-approve CIC debt-for-equity swap

Posted on 04 April 2014

Shareholders in Indonesia’s troubled PT Bumi Resources voted on Thursday in favour of new terms to settle the firm’s $1.3 billion debt with China’s sovereign wealth fund, CIC, after Indonesia’s financial services authority (OJK) rejected an earlier vote.
The latest vote to approve the debt-for-equity swap with CIC should come as good news for shareholders in the firm that has suffered downgrades from ratings agencies and faces bloated debt loads………………………………….Full Article: Source


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