Bukit Asam to issue $150m bonds

Bukit Asam to issue $150m bonds

JAKARTA: Indonesian coal producer PT Tambang Batubara Bukit Asam said on Wednesday it plans to issue US$150 million worth of Eurobonds to help finance the development of its geothermal power project in West Java, the company's top official said.

"We expect to issue the bond in the second half of this year," Bukit Asam's President, Ismet Harmaini, told reporters.

He didn't give details on the bond's tenor or coupon.

Bukit Asam plans to start development work on the Banjar Sari power project later this year and expects the plant to be in operation in 2008.

The power plant could generate an estimated 200 megawatts of capacity, Ismet said. -- Dow Jones