Berlian Laju Tanker subsidiary to redeem 1.25% convertibles

By Angela McDaniels

Seattle, April 27 - PT Berlian Laju Tanker Tbk. subsidiary BLT Finance Corp. will redeem its $50 million 1.25% guaranteed convertible bonds due 2010, according to a company news release.

The company will fund the redemption with cash from operations.

The bonds were issued in December 2005 and are guaranteed by Berlian Laju Tanker, a shipping company based in Jakarta, Indonesia, that transports liquid cargoes including oil, chemicals, liquefied petroleum gas, palm oil and molasses.

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