JAKARTA: Prime Dig Pte had obtained consects from noteholders representing 96.08% of its $315 million or US$302.64 million bonds due November 2014 as of its early consent deadline of 5:00 p.m. New York city time on Dec 10.
As reported by Bloomberg today, enough consents have been received to change some of the securities' covenants and repay a US$285 million loan owed to Sumitomo Mitsui Banking Corp by entering into a new credit facility, according to a statement to the Singapore stock exchange. The tender offer will expire at 11:59 p.m. New York city time on Dec. 27, the statement said. Prime Dig is wholly owned subsidiary of PT Bukit Makmur Mandiri Utama (BUMA), Indonesia's second largest coal mining contractor.BUMA is wholly owned by PT Delta Dunia Makmur Tbk (DOID). DOID is stagnant at IDR1,370 per share. (wiw)
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