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Article: INDONESIAN MINER BUMI MORTGAGES SUBSIDIARIES FOR US$1.9 BLN.

Article from:
AsiaPulse News
Article date:
October 1, 2009
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JAKARTA, Oct 1 Asia Pulse - Publicly traded Indonesian coal producer PT Bumi Resources (JSX:BUMI) mortgaged its subsidiaries PT Kaltim Prima Coal and PT Arutmin Indonesia for a new debt of US$1.9 billion from China Investment Corp.

The fund, expected to be disbursed today, will be used to repay high interest debts and finance the acquisition of three coal companies, Bumi Senior Vice President Dileep Srivastava said.

Last week, Bumi and CIC signed a deal in ...

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