Berlian Tanker completes convertible bond resale

JAKARTA: PT Berlian Laju Tanker Tbk, an Indonesian shipping company, through its subsidiary, BLT Finance Corporation, completed the convertible bond resale transaction valuing US$48.8 million or IDR439.2 billion.Buyers of the zero-coupon convertible bond guaranteed by Berlian Tanker and maturing in 2012 are some of the bond holders themselves. Along with the sale, BLT Finance also changes the bond agreement."With HSBC Ltd as our trustee, we have added new points into the bond agreement since December 14," said Berlian Tanker Director Kevin Wong at company's disclosure to SGX, last night.Changes in the agreement of the SGX-listed bond include extended maturity period from 2012 to 2015 and change in interest rate to 12% per year.Furthermore, the bond price is fixed at IDR409 per share. The bond could only be coverted in 2015 into Berlian Tanker's shares listed in Indonesia Stock Exchange. (T05/NOM)