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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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Wednesday, 24 February 21
MARKET INSIGHT - INTERMODAL
With yields of up to 563%, the shares of Greek shipping companies listed on Wall Street are recorded. The Coronavirus pandemic has not significantl ...
Sunday, 21 February 21
ANZ DIVESTING FROM THE WORLD’S LARGEST COAL EXPORT PORT IS 'PRAGMATISM' - IEEFA
The biggest buyers of Australian thermal coal have committed to net-zero emissions
ANZ, Australia’s third largest bank, has decided to s ...
Sunday, 21 February 21
EDITORIAL: TIME FOR BANGLADESH TO FOCUS ON RENEWABLE ENERGY, NOT COAL - DHAKA TRIBUNE
Shifting away from coal is not only desirable, but absolutely necessary in these times.
In spite of being detrimental to environment ...
Wednesday, 17 February 21
STRANDED ASSETS A LONG-TERM RISK FOR MAJOR FOSSIL FUEL EXPORTERS - FITCH RATINGS
Fossil exporters face a loss of GDP, government revenue and export receipts from the transition to a lower-carbon economy over the coming decades. ...
Friday, 12 February 21
U.S: WIND SURPASSED COAL AS NO. 1 FUEL SOURCE IN 2020 FOR SOUTHWEST POWER POOL - IEEFA
Wind energy growth due to geography, design factors, and new installations
Wind surpassed coal as the primary power generation sourc ...
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