Bumi Resources (BUMI), controlled by Bakrie Group, has kicked off the issuance of 26.17 billion new shares at Rp250 per share to raise Rp6.54 trillion. About US$150 million of proceeds will be used to repay China Investment Corporation’s facility, while the balance will go to Castleford (US$150 million), holders of Guaranteed Convertible Bonds Due 2014 (US$225 million), and working capital.
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