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BlackGold to fund stake in Riau-1 project with potential $20 mil convertible bond issuance

Michelle Zhu Published on Mon, Dec 04, 2017 / 10:42 AM GMT+8

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SINGAPORE (Dec 4): BlackGold Natural Resources plans to finance its acquisition of a stake in the Riau-1 Project, an upcoming 2x300 megawatt coal-fire plant in Riau province, Sumatra, by selling debt.

See: BlackGold taps Indonesia's rapidly growing power plant industry

In a filing last Thursday, the company announced it has signed an MoU with an unnamed Hong Kong-based financial institution to raise up to $20 million through the issuance of convertible bonds.

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