Berau plans US$600mn bond issue

PT Berau Coal Energy plans to issue global bonds worth US$600mn, with interest at level around of 7%. Around 50% of the fund will be used for debt repayment and another US$300mn for capex. Berau also plans to do IPO next year. This year the company targets coal production to reach 17.9Mt(+23.4%yoy) and 21.0Mt in 2011