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Thursday, 28 January 21
BUMA PRICED A USD400 MILLION 7.75% 5-YEAR SENIOR NOTES
 PT Delta Dunia Makmur Tbk. announced that its subsidiary, PT Bukit Makmur Mandiri Utama priced a USD400 million 5-year (non-callable 2-year) Senior Notes, following a successful bookbuilding on January 26, 2021, that garnered in excess of USD1.15 billion order from 101 accounts, achieving an oversubscription ratio of 2.9x.
According to press release of the company, the US-Dollar denominated Senior Notes will bear fixed interest of 7.75% p.a., with interest payable semi-annually in arrears. On January 22-25, 2021, the Company and BUMA conducted a virtual roadshow for the Transaction, which included several countries in Asia, Europe and the United States in compliance with Rule 144A and Regulation S under the US Securities Act. J.P. Morgan (S.E.A.) and UBS AG Singapore Branch are the Joint Bookrunners.
The company further said that, the Transaction reflects investors’ continued confidence in BUMA, despite market challenges amidst a global pandemic. Moody’s has assigned a rating of Ba3 (negative) to BUMA whilst Fitch has assigned a rating of BB- (negative) to the Company and Senior Notes.
The net proceeds from the Senior Notes, will be used to fully refinance BUMA’s existing indebtedness under loan facilities with MUFG and BUMA’s 7.75% Senior Notes due 2022. This exercise enables BUMA to extend its debt maturity profile, reduce amortization and improve cash flow, and allows for increased operational flexibility to support BUMA’s future growth.
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Friday, 30 April 21
HIGH-SULPHUR FUEL OIL SALES REBOUND AFTER PRE-IMO 2020 - BIMCO
HSFO sales are up 47.2% from Q1 2020, reaching 3.1m tonnes. This is however still less than a third of high-sulphur fuel sales in Q1 2019, before t ...
Wednesday, 28 April 21
MARKET INSIGHT - INTERMODAL
Despite the current challenges as a result of the global pandemic, 2021 is turning out to be a landmark year for the iron ore market with spot pric ...
Monday, 26 April 21
CHINA TO FURTHER CUT COAL USE IN 2021 - XINHUA
China aims to reduce the share of coal in its energy mix to less than 56% this year, according to a guideline released by the National Energy Admin ...
Wednesday, 21 April 21
COAL FINANCING COSTS HAVE SURGED IN PAST 10 YEARS - UNIVERSITY OF OXFORD - THE GUARDIAN
Coal financing costs have surged over the last decade as investors demand returns four times as high as the payoff required from renewable energy p ...
Tuesday, 20 April 21
US DOLLAR LIBOR TRANSITION IN ASSET FINANCE - WHERE ARE WE NOW? - WATSON FARLEY & WILLIAMS
Since our last article, there has been a raft of regulatory and market body announcements relating to the transition away from LIBOR and the follow ...
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- Posco Energy - South Korea
- Ministry of Transport, Egypt
- Videocon Industries ltd - India
- Xindia Steels Limited - India
- MS Steel International - UAE
- Sarangani Energy Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Orica Mining Services - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Indian Energy Exchange, India
- South Luzon Thermal Energy Corporation
- Riau Bara Harum - Indonesia
- Mercator Lines Limited - India
- Semirara Mining Corp, Philippines
- Ministry of Finance - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Romanian Commodities Exchange
- Agrawal Coal Company - India
- Merrill Lynch Commodities Europe
- Meralco Power Generation, Philippines
- SMC Global Power, Philippines
- IHS Mccloskey Coal Group - USA
- Eastern Energy - Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Wood Mackenzie - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Gujarat Sidhee Cement - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bayan Resources Tbk. - Indonesia
- Medco Energi Mining Internasional
- International Coal Ventures Pvt Ltd - India
- The Treasury - Australian Government
- Baramulti Group, Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Coal and Oil Company - UAE
- Gujarat Mineral Development Corp Ltd - India
- Globalindo Alam Lestari - Indonesia
- Bulk Trading Sa - Switzerland
- Coalindo Energy - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Planning Commission, India
- Coastal Gujarat Power Limited - India
- Georgia Ports Authority, United States
- Mjunction Services Limited - India
- London Commodity Brokers - England
- Electricity Generating Authority of Thailand
- GAC Shipping (India) Pvt Ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ambuja Cements Ltd - India
- Kartika Selabumi Mining - Indonesia
- Interocean Group of Companies - India
- Karaikal Port Pvt Ltd - India
- Port Waratah Coal Services - Australia
- GVK Power & Infra Limited - India
- Aditya Birla Group - India
- Leighton Contractors Pty Ltd - Australia
- Electricity Authority, New Zealand
- Chettinad Cement Corporation Ltd - India
- Indo Tambangraya Megah - Indonesia
- Kobexindo Tractors - Indoneisa
- Kideco Jaya Agung - Indonesia
- Renaissance Capital - South Africa
- Parliament of New Zealand
- Bhatia International Limited - India
- CIMB Investment Bank - Malaysia
- Timah Investasi Mineral - Indoneisa
- Toyota Tsusho Corporation, Japan
- SMG Consultants - Indonesia
- Australian Commodity Traders Exchange
- Energy Link Ltd, New Zealand
- Chamber of Mines of South Africa
- GMR Energy Limited - India
- McConnell Dowell - Australia
- New Zealand Coal & Carbon
- Sree Jayajothi Cements Limited - India
- Anglo American - United Kingdom
- Ceylon Electricity Board - Sri Lanka
- Gujarat Electricity Regulatory Commission - India
- Metalloyd Limited - United Kingdom
- Thiess Contractors Indonesia
- Rio Tinto Coal - Australia
- Pendopo Energi Batubara - Indonesia
- India Bulls Power Limited - India
- Trasteel International SA, Italy
- Africa Commodities Group - South Africa
- LBH Netherlands Bv - Netherlands
- Sakthi Sugars Limited - India
- ICICI Bank Limited - India
- Siam City Cement PLC, Thailand
- Jorong Barutama Greston.PT - Indonesia
- CNBM International Corporation - China
- Commonwealth Bank - Australia
- Semirara Mining and Power Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Malabar Cements Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Madhucon Powers Ltd - India
- Dalmia Cement Bharat India
- Heidelberg Cement - Germany
- Bhushan Steel Limited - India
- Indogreen Group - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- San Jose City I Power Corp, Philippines
- Central Java Power - Indonesia
- PNOC Exploration Corporation - Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Vizag Seaport Private Limited - India
- Tata Chemicals Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- SN Aboitiz Power Inc, Philippines
- Cement Manufacturers Association - India
- Asmin Koalindo Tuhup - Indonesia
- Australian Coal Association
- Banpu Public Company Limited - Thailand
- Oldendorff Carriers - Singapore
- Barasentosa Lestari - Indonesia
- Intertek Mineral Services - Indonesia
- Savvy Resources Ltd - HongKong
- Star Paper Mills Limited - India
- Directorate Of Revenue Intelligence - India
- Goldman Sachs - Singapore
- Grasim Industreis Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- PowerSource Philippines DevCo
- Orica Australia Pty. Ltd.
- Maharashtra Electricity Regulatory Commission - India
- White Energy Company Limited
- Edison Trading Spa - Italy
- Energy Development Corp, Philippines
- Jindal Steel & Power Ltd - India
- TeaM Sual Corporation - Philippines
- ASAPP Information Group - India
- Singapore Mercantile Exchange
- AsiaOL BioFuels Corp., Philippines
- OPG Power Generation Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Petron Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Central Electricity Authority - India
- Antam Resourcindo - Indonesia
- Eastern Coal Council - USA
- Aboitiz Power Corporation - Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Siam City Cement - Thailand
- Sindya Power Generating Company Private Ltd
- Altura Mining Limited, Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Lanco Infratech Ltd - India
- Therma Luzon, Inc, Philippines
- Bukit Baiduri Energy - Indonesia
- VISA Power Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Jaiprakash Power Ventures ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- IEA Clean Coal Centre - UK
- Ministry of Mines - Canada
- Krishnapatnam Port Company Ltd. - India
- Power Finance Corporation Ltd., India
- Thai Mozambique Logistica
- Iligan Light & Power Inc, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Vedanta Resources Plc - India
- Deloitte Consulting - India
- Tamil Nadu electricity Board
- Independent Power Producers Association of India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Mintek Dendrill Indonesia
- Sojitz Corporation - Japan
- Sical Logistics Limited - India
- Manunggal Multi Energi - Indonesia
- Economic Council, Georgia
- Essar Steel Hazira Ltd - India
- The University of Queensland
- Global Coal Blending Company Limited - Australia
- Indian Oil Corporation Limited
- Latin American Coal - Colombia
- Neyveli Lignite Corporation Ltd, - India
- The State Trading Corporation of India Ltd
- Mercuria Energy - Indonesia
- Kumho Petrochemical, South Korea
- Carbofer General Trading SA - India
- Miang Besar Coal Terminal - Indonesia
- Formosa Plastics Group - Taiwan
- Global Business Power Corporation, Philippines
- Makarim & Taira - Indonesia
- Bhoruka Overseas - Indonesia
- Larsen & Toubro Limited - India
- Samtan Co., Ltd - South Korea
- Bharathi Cement Corporation - India
- Bangladesh Power Developement Board
- European Bulk Services B.V. - Netherlands
- Parry Sugars Refinery, India
- Bukit Makmur.PT - Indonesia
- PTC India Limited - India
- Simpson Spence & Young - Indonesia
- Borneo Indobara - Indonesia
- Straits Asia Resources Limited - Singapore
- Global Green Power PLC Corporation, Philippines
- Indika Energy - Indonesia
- Minerals Council of Australia
- Price Waterhouse Coopers - Russia
- Kepco SPC Power Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Uttam Galva Steels Limited - India
- Meenaskhi Energy Private Limited - India
- Maheswari Brothers Coal Limited - India
- Wilmar Investment Holdings
- Marubeni Corporation - India
- Attock Cement Pakistan Limited
- Holcim Trading Pte Ltd - Singapore
- Indonesian Coal Mining Association
- Standard Chartered Bank - UAE
- Kaltim Prima Coal - Indonesia
- Binh Thuan Hamico - Vietnam
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