Indonesia's Kalta Prima Coal to start roadshow April 26 for $450 million two-tranche offering

By Paul A. Harris

St. Louis, April 16 - Indonesia's Kalta Prima Coal will start a roadshow April 26 in Singapore for a $450 million two-tranche note offering, according to an informed source.

The deal will subsequently be marketed in Hong Kong and the United States.

The issuer, Indonesia's second-largest coal company, will offer three-year floating-rate notes and seven-year fixed-rate notes, with tranche sizes to be determined.

Credit Suisse First Boston and JP Morgan will run the books on the Rule 144A/Regulation S offering.

Proceeds will be used to finance a $404.5 million five-year loan that PT Bumi Resources obtained in 2003 to fund the acquisition of Kalta Prima Coal from Rio Tinto plc and BP plc.

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