Indonesian coal miner PT Bumi Resources said that it plans to raise USD 300 million from the sale of guaranteed senior secured notes maturing in 2016.

PT Bumi Resources in a statement to the stock exchange said that the secured notes, issued by fully owned unit Bumi Capital Pte Ltd will pay a fixed interest rate of 12% per year.

The proceeds will be used for future acquisitions and investment in mining-related companies. They will also be used to develop a project in North Sumatra's Dairi regency by its subsidiary, Australian-listed coal miner Herald Resources Ltd.

Credit Suisse and Deutsche Bank AG were joint lead managers and bookrunners for the offering.

(Sourced from Thomson Reuters)