..::$ Keputusan ada ditangan anda $::..: DJ Bumi Mulls Early Repayment For $600 Mln Of Debt To CIC In 2nd Half

Kamis, 14 April 2011

Date : Apr 14 2011, 15:04

Title : News Story

Header : DJ Bumi Mulls Early Repayment For $600 Mln Of Debt To CIC In 2nd Half

Story

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JAKARTA (Dow Jones)--Thermal coal producer PT Bumi Resources (BUMI.JK) is

considering repaying $600 million of debt it owes to China Investment Corp.

(CIC) ahead of schedule in the second half of this year, an official at Bumi

Resources said Thursday.

"There are lots of ideas to reduce debts (to CIC), including an idea to

convert it to shares or bonds," said Kenneth Farrell, a director at Bumi

Resources. He didn't provide details about the company's outstanding

obligation to CIC, but the company borrowed $1.9 billion from China's

sovereign wealth fund in 2009.

The comments come after Bumi spokesman Dileep Srivastava said earlier this

week an early debt repayment may be completed in October.

"We're eyeing European markets such as France, Germany, the Netherlands and

Austria for iron ore" produced by PT Bumi Resources Minerals (BRMS.JK),

Farrell added.

Bumi, the biggest thermal coal producer by volume in Indonesia, has a

controlling stake in BRM.

BRM expects to produce 60,000 tons of iron ore this year.

-By Linda Silaen, Dow Jones Newswires; 62 21 39831277;

linda.silaen@dowjones.com

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(END) Dow Jones Newswires

April 14, 2011 03:57 ET (07:57 GMT)

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