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Sovereign Wealth Funds Briefing - Categorized | Asset Allocation, Financials

Bumi Resources says may resell convertible bond to creditors, investors

Posted on 23 June 2011

Bumi Resources , Asia’s biggest thermal coal exporter, said on Wednesday that it is considering reselling $2.07 billion of convertible bonds to its creditors to repay debt or to strategic investors. China’s sovereign wealth fund CIC is Bumi Resources’ biggest creditor.
Bumi will receive the bond from London-based Bumi Plc, the renamed venture of Vallar and its controlling shareholder, in exchange for a 75 percent stake in its unit Bumi Resources Minerals……………………………………….Full Article: Source


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