PT Bumi Resources said it will continue to “engage proactively” with bondholders over coming weeks after a meeting to delay repayment on $375 million of convertible notes failed.
PT Bumi Resources , Indonesia’s biggest coal producer, posted a 37 percent decline in nine-month profit from a year earlier as finance costs surged.
PT Bumi Resources avoided a default by paying an overdue coupon on its $300 million November 2016 bonds, according to a filing to the Indonesian stock exchange.
PT Bumi Resources ’s profit may have risen about 50 percent last year as the company, Indonesia’s biggest coal producer, sold more coal at higher prices, said Dileep Srivastava , a director.
"We expect a favorable vote on August 22."
- Dileep Srivastava on Aug 11, 2014