29 Jan 2018
Global debt restructuring of PT Bumi Resources Tbk.
Partners Abdul Jabbar, Sim Kwan Kiat, Lee Xin Mei, Senior Associates Chai Wei Han, Farrica Koh and Associate Tan Kok Siong acted as Singapore counsel to Bumi Resources on one of the largest and most complex debt restructuring transactions completed in South East Asia. The restructuring primarily involved the issuance of new loans and securities, comprising of senior notes, mandatory convertible bonds and contingent value rights (CVRs), in exchange for US$4.5 billion of Bumi’s financial debt. Notably, the firm worked with Withers on the first ever CVRs (contingent on the price of coal) to be listed in Singapore.