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Sovereign Wealth Funds Briefing - Categorized | Compliance/Regulation/Legal, Investment

Indonesian coal miner Bumi gets lender approval for CIC deal

Posted on 12 June 2014

Indonesian coal miner PT Bumi Resources said on Wednesday its lenders had agreed to close a crucial debt-to-equity swap with Chinese sovereign wealth fund CIC, enabling it to pay the coupon on its 2016 bonds.
In October, CIC agreed to convert the $1.3 billion debt it was owed by Bumi Resources into stakes in the Indonesian company and associated subsidiaries………………………………………..Full Article: Source


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