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Asia Resource Minerals, bondholders agree to restructure debt

Reuters - UK Focus

March 18 (Reuters) - Coal miner Asia Resource Minerals Plc (LSE: ARMS.L - news) said it had reached an agreement with some bondholders, including a trust of shareholder Nathaniel Rothschild, to restructure notes due in 2015 and 2017.

The miner, which has been struggling with executive battles and tumbling coal prices, said it would now exchange the principal amounts of the 2015 notes and 2017 notes for new notes maturing in July 2019 and December 2020 respectively.

The Indonesia-focused miner said in February that it would talk to bondholders to extend the maturity of both $450 million notes due July 2015 and $500 million notes due July 2017.

Shares (Berlin: DI6.BE - news) in ARMS were down 1.5 percent at 15.7 pence in early trading on the London Stock Exchange (Other OTC: LDNXF - news) . (Reporting By Mamidipudi Soumithri in Bengaluru; Editing by Anupama Dwivedi)