KPC unit to issue bonds

KPC unit to issue bonds

JAKARTA: Cherosh Holding B.V., a Holland-based investment unit of
coal producer PT Kaltim Prima Coal (KPC), plans to issue
guaranteed bonds to finance KPC working capital and debts.

In a report to the Jakarta Stock Exchange over the weakened,
the country's largest coal producer PT Bumi Resources, KPC's
parent company, said that the bonds would come in fixed and
floating rates. However, the amount of the bonds has yet to be
decided.

Cheros has appointed Credit Suisse First Boston (CSFB) and JP
Morgan as joint global coordinators and bookrunners for the
issue. The company has also appointed CSFB, JP Morgan, Mandiri
Sekuritas, PT Danatama Makmur and UOB Asia Limited as joint lead
managers. -- JP