Bumi Resources took advantage of a barely open window late last week to raise $300 million through a seven-year deal. It was the fourth Indonesian coal miner to tap the dollar bond market in as many weeks, and Bumi was forced to pay a yield at the top of the range as investors began to take cover ahead of the year-end.
The deal, arranged by joint bookrunners Credit Suisse and Deutsche Bank, was priced late on Thursday November 5 New York-time, a day after the monthly meeting of the US Federal Open Market Committee FOMC, and a day before the closely watched US non-farm payrolls report. In addition, the leads were under pressure to...
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