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