PT Bumi Resources closes loan with China Investment Corporation
Clients PT Bumi Resources Tbk
Jones Day advised PT Bumi Resources Tbk, the largest coal mining company in Indonesia ("Bumi Resources"), in a US $1.9 billion, six-year loan from China Investment Corporation Limited, acting through a subsidiary. The net proceeds of the loan were used to refinance substantially all of Bumi Resources' existing indebtedness, to complete three acquisitions entered into in early 2009, and for working capital and capital expenditure purposes.
Bumi Resources, a company listed on the Indonesia Stock Exchange, is the holding company for the largest coal mining group in the Republic of Indonesia. Bumi Resources' main operating subsidiaries, PT Kaltim Prima Coal and PT Arutmin Indonesia, are two of the largest thermal coal producers in Indonesia and, collectively, one of the largest thermal coal exporters in the world.