By Christine Van Dusen
Atlanta, June 30 - Indonesia's Berau Capital Resources Pte. Ltd. (B2/B+/) priced $350 million of 12½% notes due July 8, 2015 at par to yield 12½%, according to an informed market source.
Credit Suisse and Deutsche Bank were the bookrunners for the Rule 144A and Regulation S deal, which is non-callable for three years and guaranteed by parent PT Berau Coal Energy and all of its active subsidiary companies.
Proceeds will be used to refinance existing indebtedness and to help fund the acquisition of Maple Marketing Co.
Berau Capital Resources is a subsidiary of PT Berau Coal Energy, a producer and exporter of thermal coal based in Kalimantan Timur, Indonesia.
| Issuer: | Berau Capital Resources (PT Berau Coal Energy)
|
| Amount: | $350 million
|
| Maturity: | 2015
|
| Bookrunners: | Credit Suisse, Deutsche Bank
|
| Coupon: | 12½%
|
| Price: | Par
|
| Yield: | 12½% |
|
| Call features: | Non-callable for three years
|
| Trade date: | June 30
|
| Settlement date: | July 8
|
| Ratings: | Moody's: B2
|
| Standard & Poor's: B+
|
| Distribution: | Rule 144A/Regulation S
|
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