Empire Capital redeems 9 3/8% notes, floating-rate notes due 2011

By Jennifer Chiou

New York, Dec. 30 - Empire Capital Resources Pte. Ltd. announced that it completed the redemption of all $225 million of its 9 3/8% secured senior fixed-rate notes due 2011 and all $100 million of its secured senior floating-rate notes due 2011.

The redemption took place on Dec. 28.

The fixed-rate notes were redeemed at 104.688 with accrued interest while the floating-rate notes were redeemed at par, plus the greater of 1% of the principal amount, or the excess of the present value at the redemption date of 104% of the principal amount plus all interest due through maturity over the principal amount of the notes and accrued interest.

Empire Capital is a financing subsidiary of PT Berau Coal, a Jakarta, Indonesia-based coal mining company.

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