Berau Coal Energy $950 million bond restructuring

Overview:

• Berau Coal Energy is seeking to restructure its $950 million high yield bonds after it failed to repay its dollar bonds in July in the nation’s largest default of 2015. 
• The company is making a tender offer to redeem $450 million of 12.5% notes that were due in July and $500 million of 7.25% debt maturing in 2017.
• Berau Coal Energy is Indonesia's fifth largest coal producer. 

Katrin Kostadinova - Data analyst