Tue, Jun 15, 2021
A A A
Welcome mteam
RSS

Sovereign Wealth Funds Briefing - Categorized | Financials

Indonesia’s Bumi Resources cuts rights issue size, in talks with creditors

Posted on 30 September 2014

PT Bumi Resources Tbk , Indonesia’s biggest coal miner, has cut its planned rights issue, saying it sees an opportunity to negotiate with some creditors on its debt. In June, Bumi said it will issue up to 32.2 billion shares to raise 8.05 trillion rupiah ($664 million), mainly to pay off its debt to creditors, including Chinese sovereign wealth fund China Investment Corp.
In October last year, CIC agreed to convert part of Bumi’s debt into stakes in the miner and associated subsidiaries. In July, Bumi transferred a 19 percent stake worth $950 million in its unit, Kaltim Prima Coal, cutting its debt to the Chinese sovereign wealth fund to $1.04 billion………………………………………..Full Article: Source


 Article link

This post was written by:

VRS - who has written 19873 posts on Opalesque Sovereign Wealth Funds Briefing.


Contact the author

Comments are closed.

banner
banner
banner
banner
June 2021
M T W T F S S
« Nov    
 123456
78910111213
14151617181920
21222324252627
282930