Bumi gets $300m as supply weighs on high yield bonds

12 Nov 2009

Coal miner Bumi Resources raised $300m in the international bond market late last week, pricing at the wide end of guidance in a move that highlighted fears that a glut of Indonesian deals has begun to affect demand for new issues.

Credit Suisse and Deutsche Bank arranged the seven year non-call four deal, which priced at par with a 12% coupon, at the wide end of guidance set between 11.5% and 12% before the deal priced late on November 5.

The borrower was originally aiming to raise between $300m and ...

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