PT Bumi Resources Tbk

Type: Company
Name: PT Bumi Resources Tbk (PT Bumi Resources)
First reported Aug 20 2014 - Updated 4 hours ago - 2 reports

Jakarta Stocks May See Resistance At 5,200

The Indonesia stock market has closed higher now in three straight trading days, gaining more than 40 points or 0.8 percent along the way. The Jakarta Composite Index settled just above the 5,190-point plateau, and the market may see a mild pullback on ... [Published RTTNews.com - 4 hours ago]
First reported Aug 13 2014 - Updated Aug 13 2014 - 2 reports

PT Bumi Resources Rating Lowered To #SD# On Missed Principal #CCC-# Rating On Bond Placed On

SINGAPORE--13 Aug--Standard & Poor's-Bumi did not repay the principal on its US$375 million convertible bonds,which matured on Aug. 5, 2014. The principal is unpaid even after afive-day grace period that ended on Aug. 12, 2 ... [Published Newswit.com - Aug 13 2014]
First reported Aug 12 2014 - Updated Aug 13 2014 - 3 reports

PT Bumi gets approval from bondholders to change debt terms

Heavily indebted PT Bumi Resources Tbk, Indonesia's biggest coal producer, said it has secured approval from a group of bondholders to change the terms of its US$375 million (RM1.1. billion) bonds as the firm struggles with sliding shares and falling ... [Published The Malaysian Insider :: Business - Aug 13 2014]
First reported Aug 12 2014 - Updated Aug 12 2014 - 1 reports

ASIA CREDIT CLOSE: Credits in better tone, thanks to decent results

HONG KONG, Aug 12 (IFR) - Asian credits remained in better tone today after yesterday's rebound in secondary trading. In the absence of unsettling news from the Ukrainian front, decent performance results from Chinese listed companies helped sentiment ... [Published Sify - Aug 12 2014]
First reported Aug 11 2014 - Updated Aug 12 2014 - 1 reports

Bumi Makes Second Attempt to Avert $375 Million Bond Default

PT Bumi Resources (BUMI) , Asia ’s most indebted coal miner, sweetened the terms of a $375 million bond exchange offer a second time in a bid to avoid default.The Jakarta-based coal mining company sent a letter to bondholders Aug. 7 seeking to extend ... [Published Bloomberg - Aug 11 2014]
First reported Aug 11 2014 - Updated Aug 11 2014 - 2 reports

Bumi sweetens bond offer to avoid default

SINGAPORE: PT Bumi Resources sweetened the terms of a US$375 million (RM1.19 billion) bond exchange offer for a second time in a bid to avoid default.The coal mining company sent a letter to bondholders on August 7 seeking to extend the notes’ maturity ... [Published New Straits Times - Aug 11 2014]
First reported Aug 11 2014 - Updated Aug 11 2014 - 2 reports

Malaysian stocks close higher, strong foreign fund inflow for Manila

An Airbus A380, owned by Malaysia Airlines, lands ahead of the Farnborough Airshow 2012 in southern England July 8, 2012. — Reuters pic KUALA LUMPUR, Aug 11 — Most Southeast Asian stock markets rebounded today, with Malaysia rising from a 4-1/2-month ... [Published Malay Mail - Aug 11 2014]
Entities: Manila, Malaysia, Stocks, Index
First reported Aug 08 2014 - Updated Aug 08 2014 - 1 reports

Local Biztalk - 8/8/14

The Morning Run crew gives you their take on today's business headlines:- Restarting programme signals return of Perwaja- MBSB hopes for increased competitiveness through merger- Falling palm oil margins squeezes Wilmar's profits in second quarter- Japfa ... [Published BFM 89.9 - Aug 08 2014]
First reported Aug 07 2014 - Updated Aug 07 2014 - 1 reports

Bumi Resources Expects Resolution This Week With Bondholders

PT Bumi Resources expects to reach anagreement with creditors to restructure $375 million ofconvertible bonds this week after the notes’ original due datepassed Aug. 5.“We expect a resolution this week and will inform themarket as soon as possible,” Jakarta-based ... [Published Bloomberg - Aug 07 2014]
First reported Aug 05 2014 - Updated Aug 05 2014 - 1 reports

Bumi’s bonds fall as more time needed to repay debt

Bonds of PT Bumi Resources, the most indebted coal producer in Asia, fell after the company said it’s seeking more time to repay US$375 million (RM1.2 billion) and avoid a default. Bumi’s 10.75% US$700 million securities due October 2017 dropped … ... [Published KiniBiz - Aug 05 2014]
First reported Aug 01 2014 - Updated Aug 01 2014 - 1 reports

Bumi Resources tries to sweeten debt-exchange offer

PT Bumi Resources, the most indebted coal producer in Asia, is trying to sweeten its debt-exchange offer, sending a letter to holders of its US$375 million (RM1.2 million) bonds ahead of a repayment deadline next week. The Jakarta-based coal-mining group, ... [Published KiniBiz - Aug 01 2014]
First reported Aug 01 2014 - Updated Aug 01 2014 - 1 reports

Bumi Resources Offers to Sweeten Debt Exchange as Default Looms

PT Bumi Resources is trying tosweeten its debt-exchange offer, sending a letter to holders ofits $375 million of convertible bonds ahead of a deadline nextweek to repay the debt.The Jakarta-based coal-mining group, which risks default ifit doesn’t pay ... [Published Bloomberg - Aug 01 2014]

Quotes

"We plan to raise our corporate credit rating on Bumi when the company completes restructuring the convertible bonds and we believe Bumi's other debt obligations are not in default. If Bumi defaults on its other debts, we will lower our rating on Bumi to 'D'" Mr. Kulkarni said
...is Berau Coal Energy, which continued to build books today for its offering of 5-year non-call 3 bonds indicated to yield in the area of 10.5%. "Investors want to take more time as credit markets have been volatile" said a banker on the Berau Coal deal...
"The decision on the extension is made due to the depressed coal price and sector environment as the companies are not in a position to settle the bonds in cash and believe that holders will favourably consider the proposed amended terms and will vote in the consent solicitation on the meeting to approve the proposed extension" said Dileep Srivastava, Director and Corporate Secretary of BUMI, in information disclosure to IDX (
...on Monday that depressed coal prices will pressure Indonesian miners' credit quality over the next 12-18 months and Bumi is the weakest positioned. "The company faces substantial near-term maturities of more than $1 billion over the next 12 months, and does not have the internal capacity to fund these maturities" the ratings agency said...

More Content

All (53) | News (45) | Reports (0) | Blogs (7) | Audio/Video (0) | Fact Sheets (1) | Press Releases (0)
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Jakarta Stocks May See Resistance At 5,200 [Published RTTNews.com - 4 hours ago]
Gains May Accelerate For Indonesia Shares [Published RTTNews.com - Aug 20 2014]
High-yield issuers must pay up as risks increase [Published Finance Asia - Aug 19 2014]
This Asian Nation's Stocks Are Up Over 20% YTD [Published Investopedia - Aug 13 2014]
PT Bumi Resources Rating Lowered To #SD# On Mis... [Published Newswit.com - Aug 13 2014]
PT Bumi Resources Rating Lowered To #SD# On Mis... [Published Thailand News and Press Releases - Aug 13 2014]
PT Bumi gets approval from bondholders to chang... [Published The Malaysian Insider :: Business - Aug 13 2014]
PT Bumi gets approval from bondholders to chang... [Published The Malaysian Insider - Aug 13 2014]
Bumi wins bid to restructure debt [Published New Straits Times - Aug 12 2014]
Indonesia’s Debt Rally Loses Steam as Crises Ra... [Published Jakarta Globe - Aug 12 2014]
ASIA CREDIT CLOSE: Credits in better tone, than... [Published Sify - Aug 12 2014]
Bumi Bondholders Committee Authorizes Plan to A... [Published Bloomberg - Aug 12 2014]
Bumi sweetens bond offer to avoid default [Published New Straits Times - Aug 11 2014]
Malaysian stocks close higher, strong foreign f... [Published Malay Mail - Aug 11 2014]
SE Asia Stocks -Malaysia up from 4-1/2-month lo... [Published Sharenet - Aug 11 2014]
Bumi Proposes Payment Extension over Its US375 ... [Published Bisnis Indonesia - Aug 11 2014]
Bumi Makes Second Attempt to Avert $375 Million... [Published Washington Post - Aug 11 2014]
Bumi makes second attempt to avert RM1.2 bil bo... [Published KiniBiz - Aug 11 2014]
Bumi Makes Second Attempt to Avert $375 Million... [Published Bloomberg - Aug 11 2014]
How 30 year old Ladi Delano created a billion ... [Published Hallmark News - Aug 08 2014]
Local Biztalk - 8/8/14 [Published BFM 89.9 - Aug 08 2014]
Bumi Resources Expects Resolution This Week Wit... [Published Bloomberg - Aug 07 2014]
Argentina Nerves Drag Distressed Bond Returns t... [Published Bloomberg - Aug 06 2014]
Bumi’s bonds fall as more time needed to repay ... [Published KiniBiz - Aug 05 2014]
Indonesia Stock Market May See More Upside [Published RTTNews.com - Aug 05 2014]
Indonesian mining company Bumi in talks to chan... [Published Malay Mail - Aug 04 2014]
Indonesia's Bumi says in talks to change terms ... [Published Sharenet - Aug 04 2014]
Indonesian Coal Producers Pressured by Weak Coa... [Published Bisnis Indonesia - Aug 04 2014]
Moody’s Labels Bumi ‘Most Vulnerable’ Coal Mine... [Published Bloomberg - Aug 04 2014]
Bumi tries to sweeten debt-exchange offer [Published Business Times Singapore - Aug 03 2014]
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PT Bumi gets approval from bondholders to chang... [Published The Malaysian Insider - Aug 13 2014]
Heavily indebted PT Bumi Resources Tbk, Indonesia's biggest coal producer, said it has secured approval from a group of bondholders to change the terms of its US$375 million (RM1.1. billion) bonds as the firm struggles with sliding shares and falling ...
The Greatest Disconnect. [Published London Irvine Report - Jun 20 2014]
br />!--[if gte mso 9]>Normal 0 falsefalse false falseEN-GB X-NONE X-NONE<![endif]-->!--[if gte mso 10]> /* Style Definitions */ table.MsoNormalTable {mso-style-name:"Table Normal"; mso-tstyle-rowband-size:0; mso-tstyle-colband-size:0; ...
Indonesian coal miner Bumi gets lender approval... [Published The Malaysian Insider - Jun 11 2014]
Indonesian coal miner PT Bumi Resources said today its lenders had agreed to close a crucial debt-to-equity swap with Chinese sovereign wealth fund CIC, enabling it to pay the coupon on its 2016 bonds.In October, CIC agreed to convert the US$1.3 billion ...
U.S. billionaire Tom Steyer made a fortune on A... [Published Financial Post - Top Stories - May 14 2014]
BOSTON/JAKARTA/MELBOURNE — Billionaire Tom Steyer has rapidly become one of America’s most visible environmental advocates, vowing to punish lawmakers who oppose climate change action and pledging to spend up to US$100 million to put the issue center ...
Tom Steyer’s Dirty Energy Record [Published Washington Free Beacon - May 13 2014]
(Reuters) – Billionaire Tom Steyer has rapidly become one of America’s most visible environmental advocates, vowing to punish lawmakers who don’t oppose climate change and pledging to spend up to $100 million to put the issue center stage in the Nov. ...
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