Buma Said to Plan $350 Million Sale of 5-Year Bonds This Month 2009-10-23 07:38:05.535 GMT By Katrina Nicholas Oct. 23 (Bloomberg) -- PT Bukit Makmur Mandiri Utama plans to sell $350 million of five-year bonds as soon as this month with help from Barclays Plc, Deutsche Bank AG and ING Groep NV, according to a person familiar with the matter. The Indonesian coal mining contractor, also known as Buma, sent marketing documents to potential investors this week, said the person, without wanting to be named as he isn’t authorized to discuss it. Buma is being bought by Sidoarjo-based property company PT Delta Dunia Petroindo for $240 million plus $310 million in assumed debt. Delta Dunia said on Aug. 28 that it agreed to pay cash for Buma as forecasts of higher demand for fuel spur acquisitions of mining contractors. As part of the transaction, Northstar Equity Partners, the local affiliate of U.S. buyout firm TPG Inc., will take an equity stake in Delta Dunia. Buma and Delta Dunia sought to raise $600 million to finance their shareholding changes, people familiar with the matter said last month. Buma has since received commitments from banks for a $250 million loan, the person said today. Officials at Delta Dunia and Buma couldn’t be reached for immediate comment by telephone.
