Indonesia’s Berau Coal postpones dollar benchmark five-year notes

By Christine Van Dusen

Atlanta, Aug. 12 – Indonesia’s Berau Coal Energy Tbk. has postponed its planned issue of dollar-denominated and benchmark-sized notes due in five years (expected ratings: B1/BB-/), a market source said.

The notes were talked at a yield in the 10˝% area.

Barclays, Citigroup and Standard Chartered Bank were the bookrunners for the Rule 144A and Regulation S deal.

The proceeds were to be used for the repayment and redemption of the company’s outstanding 2015 notes.

The coal producer is based in Jakarta.

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