Berau Coal to issue notes worth $500m

JAKARTA: Publicly-listed coal producer PT Berau Coal Energy (BRAU) is planning to issue notes amounting to US$500 million, according to a file submitted to the Indonesia Stock Exchange (IDX) on Friday.

The file said that the company will offer the notes to foreign investors, particularly in Asia, Europe and America.

“The notes will be guaranteed with asset pledges by the company and its restricted subsidiaries,” the file said.

Berau Coal Energy will seek approval for the note issuance from its shareholders in an extraordinary meeting, which is scheduled for March 6.