Bumi Said to Plan Sale of Seven-Year Bonds in U.S. Dollars

By Shelley Smith

Nov. 3 (Bloomberg) -- PT Bumi Resources, Indonesia’s biggest coal producer, plans to sell seven-year bonds denominated in U.S. dollars, according to a person familiar with the transaction.

Jakarta-based Bumi hired Credit Suisse Group AG and Deutsche Bank AG for a benchmark sale of the bonds, said the person, who declined to be identified before a public announcement. Benchmark typically means at least $500 million.

Bumi has the right to buy the bonds back after four years, the person said.