BUMA tender offer expires with final tally pushed up $500,000

Chicago, April 3 – PT Bukit Makmur Mandiri Utama (BUMA) confirmed that its tender offer for its $365.74 million of outstanding 7¾% senior notes due 2026 (Cusips: 74445NAB3, Y71300AB6) guaranteed by BUMA Australia Pty Ltd. expired as scheduled at 5 p.m. ET on April 2, according to a notice.

Between the early deadline and the final expiration time, noteholders tendered an additional $500,000 of notes.

As of the early deadline at 5 p.m. ET on March 18, noteholders had tendered $152.99 million of their notes.

Later tendering noteholders will receive $970 per $1,000 note, the late tender consideration and $30 lower than the early consideration.

The early consideration included a $2.50 consent fee for the related consent solicitation.

By the early deadline, the response was sufficient in the company’s concurrent solicitation to amend the supplemental indenture governing the notes.

Tendering noteholders were deemed to have consented. However, noteholders could consent without tendering their notes and receive the $2.50 consent fee.

Final settlement is planned for April 5.

BNI Securities Pte. Ltd. (+65 6911 3752, +65 6911 3759, liabilitymanagement@bnisecurities.com.sg) and Deutsche Bank AG, Singapore Branch (+65 6423 5342, dcm.sea@list.db.com) were the joint dealer managers and solicitation agents.

Morrow Sodali Ltd. is the tabulation, information and tender agent (+44 20 4513 6933, +852 2319 4130, 203 658 9457, buma@investor.morrowsodali.com, https://projects.morrowsodali.com/buma).

Bukit Makmur Mandiri Utama is a coal mining company based in Jakarta, Indonesia.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.