Berau bonds up on ARMS deal

摘要

Creditors of berau coal energy last week cheered news of an end to the battle for control of the Indonesian miner's London-listed parent asia resource minerals (ARMS), less than a month before a US$450m bond repayment falls due. Berau's 7.25% 2017 US dollar-denominated bonds were up four points to 62.8 in early trade last Tuesday after ARMS announced that Nathaniel Rothschild had agreed to sell his 17.2% stake to Asia Coal Energy Ventures, a vehicle backed by Indonesia's controversial Widjaja family. The July 2015s jumped from 62.75 to 66.