Bumi Says Debt Servicing No Issue After Delay Meeting Failed
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PT Bumi Resources said it will continue to “engage proactively” with bondholders over coming weeks after a meeting to delay repayment on $375 million of convertible notes failed.
The Indonesian coal miner held a bondholders’ meeting in Singapore June 20 to approve the extension but “did not achieve the requisite quorum to consider the extraordinary resolution and accordingly the proposal has not been approved,” according to a company statement that day. The 9.25 percent notes mature Aug. 5, Bloomberg-compiled data show.