Enercoal to redeem remaining $7.9 million of 5% convertibles at 100.9

By Marisa Wong

Madison, Wis., Dec. 23 - Enercoal Resources Pte. Ltd. said that it will redeem its $7.9 million of outstanding 5% guaranteed convertible bonds due 2016 on Jan. 25.

The bonds will be redeemed at 100.9 for a total redemption price of $7,971,320.

The amount outstanding represents 2.6% of the principal amount originally issued.

The bonds will be canceled upon redemption.

Enercoal is a subsidiary of Bumi Resources, a coal mining and oil company based in Jakarta, Indonesia.

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