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12 Aug 2014 10:59
12 August 2014
For Immediate Release
Asia Resource Minerals plc ("ARMS" or the "Company")
Bond Refinancing Update
ARMS announces that further to its announcement on 25 July in respect to the proposed placing by Berau Capital Resources II Pte. Ltd. ("Berau Capital"), of $450m of Guaranteed Senior Secured Notes due 2019 ("the Notes"), it has been decided by the Board of Commissioners of PT Berau Coal Energy Tbk to postpone the placing, due to adverse market conditions.The use of proceeds of the proposed notes was intended for the redemption in full of the $450m outstanding 12.5% Guaranteed Senior Secured Notes due 8 July 2015.ARMS and its subsidiary PT Berau Coal Energy Tbk, intend to proceed with their refinancing plans when market conditions permit, and will update shareholders on its progress in due course.
- ENDS-
For enquiries, please contact:
Asia Resource Minerals plc
Sean Wade +44 (0) 20 7201 7511 | RLM Finsbury
Ed Simpkins / Charles O'Brien +44 (0) 20 7251 3801 |
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