By Kenneth Lim
Boston, July 31 - A subsidiary of PT Bumi Resources Tbk. priced $375 million of five-year guaranteed exchangeable bonds into the parent company's common stock at a coupon of 9.25% and an initial exchange premium of 30%.
Enercoal Resources Pte. Ltd. is the issuer.
Credit Suisse (Singapore) Ltd. was the placement agent in the Regulation S offering.
Enercoal will also enter into convertible note hedge and warrant transactions that will raise the effective conversion premium from the issuer's perspective to 75%.
Bumi Resources is a Jakarta, Indonesia-based coal mining company.
| Issuer: | Enercoal Resources Pte. Ltd.
|
| Issue: | Guaranteed exchangeable bonds
|
| Exchange property: | PT Bumi Resources Tbk. common stock
|
| Placement agent: | Credit Suisse (Singapore) Ltd.
|
| Amount: | $375 million
|
| Maturity: | 2014
|
| Coupon: | 9.25%
|
| Exchange premium: | 30%
|
| Issuer premium: | 75%
|
| Distribution: | Regulation S
|
| Pricing date: | July 30
|
| Settlement date: | Aug. 5
|
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