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Tuesday, 01 November 11
BAKRIE FORMS STRATEGIC PARTNERSHIP WITH BORNEO - REDUCING DEBT BY USD 1 BILLION
 Press Release - Enhancing the standing of “Indonesia Inc.” at the London Stock Exchange PT Bakrie & Brothers Tbk (“BNBR” or the “Company”) is pleased to announce that as a follow up to our announcement dated 7 October 2011, the Company and another Bakrie related entity, Long Haul Holdings (“LHH” - collectively known as “Bakrie Group”), has embarked on a strategic partnership with PT Borneo Lumbung Energi & Metal Tbk (“BORN”) with the signing of a Sales and Purchase Agreement (“SPA”) which took place in Jakarta on 31 October 2011.
Under the terms of the SPA and upon completion of the transaction, Bakrie Group and BORN will own indirectly 47.6% shareholding in London listed Bumi plc, which in return owns direct and indirect investments in PT Bumi Resources Tbk, PT Berau Coal Energy Tbk and PT Bumi Resources Minerals Tbk.
The transaction is valued at USD 1 billion which values Bumi plc’s shares at approximately GBP10.91 at the date of announcement, representing a premium of:
• Approximately 46% to the closing price of Bumi plc’s shares on the LSE on 28 October 2011 and approximately 45% premium to the last 20-day volumeweighted average trading price of Bumi plc’s shares.
• Approximately 5% premium to the last 6 month volume-weighted average trading price of approximately GBP10.34
The consideration will be payable in cash and Bakrie Group will use the proceeds from the transaction to pay down a financing facility initially coordinated by CS (“CS Loan”), therefore reducing BNBR’s overall debt position considerably.
Bakrie Group expects to complete the transaction on or around the end of December 2011 following BORN shareholders approving the transaction and satisfaction of regulatory and other approvals.
“This transaction is another important step forward for the Company as it enhances our objectives for the creation of an “Indonesia Inc.” in an international mining company. The deleveraging aspect of this transaction is also important as it provides BNBR with a healthier and stronger balance sheet. Furthermore, we have again demonstrated our commitment to meet our creditors’ obligations and highly appreciate their support towards BNBR especially during these volatile market conditions,” said Bobby Gafur Umar, President Director and CEO of BNBR.
BNBR will make appropriate disclosures upon completion of all relevant documentation and approvals.
Credit Suisse assisted BNBR in a financial advisory capacity
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Friday, 09 September 11
SUPRA BARA SECURES $20 MILLION LOAN - JP
The Jakarta Post reported that, Coal miner PT Supra Bara Energi says it has secured a US$20 million loan facility from BNP Paribas to buy heavy equi ...
Friday, 09 September 11
CAPESIZE CAN SECURE USD 17-18K SHORT PERIOD - FEARNBULK
Handy
The US Gulf has remained relatively steady, slightly more activity in the South Atlantic with owners aiming for low to mid USD 20k´s f ...
Thursday, 08 September 11
UKRAINES COAL PRODUCTION TO RISE 8% - IFANDP
Industrial fuels & power reported that, Ukraine will increase its coal output by about 8% this year compared to last year, said the country&rsqu ...
Thursday, 08 September 11
DRY BULK MARKETS RALLY COMES TO AN END - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
As was widely expected by analysts and shipbrokers alike, the latest rally of the dry bulk market came to a halt yesterday, with the Baltic Dry Inde ...
Thursday, 08 September 11
TRADA MARITIME BUYS GUNUNG BARA UTAMA
Insider Stories reported that, PT Trada Maritime Tbk (TRAM) has purchased convertible bonds issued by PT Awesome Coal from Zakia Limited. The memora ...
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- Rio Tinto Coal - Australia
- Parliament of New Zealand
- Xindia Steels Limited - India
- Romanian Commodities Exchange
- Kapuas Tunggal Persada - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Pendopo Energi Batubara - Indonesia
- Marubeni Corporation - India
- VISA Power Limited - India
- Georgia Ports Authority, United States
- IHS Mccloskey Coal Group - USA
- Edison Trading Spa - Italy
- Straits Asia Resources Limited - Singapore
- Kartika Selabumi Mining - Indonesia
- Power Finance Corporation Ltd., India
- Ambuja Cements Ltd - India
- GAC Shipping (India) Pvt Ltd
- Bahari Cakrawala Sebuku - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Sojitz Corporation - Japan
- Neyveli Lignite Corporation Ltd, - India
- Kideco Jaya Agung - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Bukit Asam (Persero) Tbk - Indonesia
- Electricity Authority, New Zealand
- Petron Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- New Zealand Coal & Carbon
- Billiton Holdings Pty Ltd - Australia
- Grasim Industreis Ltd - India
- Singapore Mercantile Exchange
- Eastern Energy - Thailand
- Global Business Power Corporation, Philippines
- Central Electricity Authority - India
- Gujarat Sidhee Cement - India
- Lanco Infratech Ltd - India
- Sindya Power Generating Company Private Ltd
- Essar Steel Hazira Ltd - India
- Antam Resourcindo - Indonesia
- Sakthi Sugars Limited - India
- Coal and Oil Company - UAE
- International Coal Ventures Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Mercator Lines Limited - India
- Eastern Coal Council - USA
- Minerals Council of Australia
- European Bulk Services B.V. - Netherlands
- Mintek Dendrill Indonesia
- Orica Australia Pty. Ltd.
- Star Paper Mills Limited - India
- South Luzon Thermal Energy Corporation
- Medco Energi Mining Internasional
- Semirara Mining Corp, Philippines
- Agrawal Coal Company - India
- Thiess Contractors Indonesia
- CNBM International Corporation - China
- Carbofer General Trading SA - India
- Globalindo Alam Lestari - Indonesia
- Kobexindo Tractors - Indoneisa
- Anglo American - United Kingdom
- Ceylon Electricity Board - Sri Lanka
- Kumho Petrochemical, South Korea
- Goldman Sachs - Singapore
- Mjunction Services Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- SMG Consultants - Indonesia
- Barasentosa Lestari - Indonesia
- Heidelberg Cement - Germany
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Price Waterhouse Coopers - Russia
- Thai Mozambique Logistica
- Sarangani Energy Corporation, Philippines
- Energy Development Corp, Philippines
- Port Waratah Coal Services - Australia
- Oldendorff Carriers - Singapore
- Semirara Mining and Power Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Toyota Tsusho Corporation, Japan
- Kepco SPC Power Corporation, Philippines
- Dalmia Cement Bharat India
- Bukit Baiduri Energy - Indonesia
- GMR Energy Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Mercuria Energy - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Bhatia International Limited - India
- Siam City Cement PLC, Thailand
- Tamil Nadu electricity Board
- The University of Queensland
- The Treasury - Australian Government
- Indika Energy - Indonesia
- Timah Investasi Mineral - Indoneisa
- Gujarat Electricity Regulatory Commission - India
- TNB Fuel Sdn Bhd - Malaysia
- Makarim & Taira - Indonesia
- Bangladesh Power Developement Board
- OPG Power Generation Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Renaissance Capital - South Africa
- Manunggal Multi Energi - Indonesia
- Bulk Trading Sa - Switzerland
- Indian Energy Exchange, India
- Larsen & Toubro Limited - India
- Meenaskhi Energy Private Limited - India
- AsiaOL BioFuels Corp., Philippines
- PNOC Exploration Corporation - Philippines
- Latin American Coal - Colombia
- Petrochimia International Co. Ltd.- Taiwan
- SMC Global Power, Philippines
- Tata Chemicals Ltd - India
- Metalloyd Limited - United Kingdom
- PTC India Limited - India
- Vizag Seaport Private Limited - India
- Alfred C Toepfer International GmbH - Germany
- Jindal Steel & Power Ltd - India
- Coastal Gujarat Power Limited - India
- Australian Coal Association
- Baramulti Group, Indonesia
- ICICI Bank Limited - India
- Orica Mining Services - Indonesia
- Coalindo Energy - Indonesia
- McConnell Dowell - Australia
- Asmin Koalindo Tuhup - Indonesia
- TeaM Sual Corporation - Philippines
- Commonwealth Bank - Australia
- Deloitte Consulting - India
- Directorate General of MIneral and Coal - Indonesia
- Wilmar Investment Holdings
- The State Trading Corporation of India Ltd
- GN Power Mariveles Coal Plant, Philippines
- Electricity Generating Authority of Thailand
- Directorate Of Revenue Intelligence - India
- CIMB Investment Bank - Malaysia
- Interocean Group of Companies - India
- Bhushan Steel Limited - India
- Intertek Mineral Services - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- PetroVietnam Power Coal Import and Supply Company
- Iligan Light & Power Inc, Philippines
- Indian Oil Corporation Limited
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bank of Tokyo Mitsubishi UFJ Ltd
- PowerSource Philippines DevCo
- Karbindo Abesyapradhi - Indoneisa
- India Bulls Power Limited - India
- IEA Clean Coal Centre - UK
- Energy Link Ltd, New Zealand
- GVK Power & Infra Limited - India
- Standard Chartered Bank - UAE
- Vedanta Resources Plc - India
- Altura Mining Limited, Indonesia
- Sree Jayajothi Cements Limited - India
- Africa Commodities Group - South Africa
- Attock Cement Pakistan Limited
- Bayan Resources Tbk. - Indonesia
- Cement Manufacturers Association - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Savvy Resources Ltd - HongKong
- Formosa Plastics Group - Taiwan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Chamber of Mines of South Africa
- Bharathi Cement Corporation - India
- White Energy Company Limited
- Madhucon Powers Ltd - India
- Independent Power Producers Association of India
- Chettinad Cement Corporation Ltd - India
- Bhoruka Overseas - Indonesia
- Simpson Spence & Young - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Central Java Power - Indonesia
- Borneo Indobara - Indonesia
- Aboitiz Power Corporation - Philippines
- San Jose City I Power Corp, Philippines
- Global Green Power PLC Corporation, Philippines
- MS Steel International - UAE
- Salva Resources Pvt Ltd - India
- Ministry of Finance - Indonesia
- Aditya Birla Group - India
- Maheswari Brothers Coal Limited - India
- Malabar Cements Ltd - India
- Videocon Industries ltd - India
- Ministry of Transport, Egypt
- London Commodity Brokers - England
- Bukit Makmur.PT - Indonesia
- SN Aboitiz Power Inc, Philippines
- ASAPP Information Group - India
- Siam City Cement - Thailand
- Australian Commodity Traders Exchange
- Sical Logistics Limited - India
- Trasteel International SA, Italy
- Planning Commission, India
- Ministry of Mines - Canada
- Riau Bara Harum - Indonesia
- Meralco Power Generation, Philippines
- Indonesian Coal Mining Association
- Global Coal Blending Company Limited - Australia
- Economic Council, Georgia
- LBH Netherlands Bv - Netherlands
- Banpu Public Company Limited - Thailand
- Indo Tambangraya Megah - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Indogreen Group - Indonesia
- Wood Mackenzie - Singapore
- Parry Sugars Refinery, India
- Miang Besar Coal Terminal - Indonesia
- Uttam Galva Steels Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Posco Energy - South Korea
- Jaiprakash Power Ventures ltd
- Kaltim Prima Coal - Indonesia
- Ind-Barath Power Infra Limited - India
- Therma Luzon, Inc, Philippines
- Samtan Co., Ltd - South Korea
- Rashtriya Ispat Nigam Limited - India
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