Jones Day advised PT Bumi Resources Tbk, the largest coal mining company in Indonesia (“Bumi Resources”), in a six-year US$1.9 billion loan from China Investment Corporation Limited (“CIC”), acting through a subsidiary. The transaction closed on September 30, 2009. The net proceeds of the loan were used to refinance substantially all of Bumi Resources’ existing indebtedness, to complete three acquisitions which were entered into in early 2009 and for working capital and capital expenditure purposes. Samuel Sekuritas Indonesia acted as arranger and financial advisor to Bumi Resources, Deutsche Bank and China International Capital Corporation were financial advisers to CIC and Davis Polk & Wardwell was legal adviser to CIC.

Bumi Resources, a company listed on the Indonesia Stock Exchange, is the holding company for the largest coal mining group in the Republic of Indonesia. Bumi Resources’ main operating subsidiaries, PT Kaltim Prima Coal and PT Arutmin Indonesia, are two of the largest thermal coal producers in Indonesia and, collectively, one of the largest thermal coal exporters in the world.

“This financing marks an important step in Bumi Resources’ goal to extend the maturity profile of its long-term debt, rationalize its capitalization structure and assist it in completing its ongoing expansion program for its coal mining operations. Furthermore, this transaction is another indication of CIC’s expressed interest in investing in quality assets in Southeast Asia, and marks its first major investment in Indonesia. We at Jones Day are pleased to have had the opportunity to represent Bumi Resources in this noteworthy financing. We believe our involvement in this landmark transaction demonstrates our commitment at Jones Day to assist our clients in completing complex transactions efficiently and effectively," said Brian Wesol, one of the lead Jones Day attorneys on the transaction.

Brian Wesol and Herman Yip led the Jones Day team, which included Sushma Jobanputra, David Longstaff, Jane Huston, Brendan Fyfe and Karen Phang. Jones Day has a long standing relationship with Bumi Resources and its subsidiaries.