Vallar says China Investment Corp wants cash for debt repayment

JAKARTA, June 28 Tue Jun 28, 2011 1:56am EDT

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JAKARTA, June 28 (Reuters) - London-listed Vallar , the controlling shareholder of Asia's biggest thermal coal exporter Bumi Resources , said sovereign wealth fund China Investment Corp wanted its $1.9 billion loan to Bumi to be repaid in cash.

"CIC wants cash, not swap its loan with CB (convertible bonds)," Vallar's CEO Ari Hudaya told Reuters. (Reporting by Janeman Latul; Editing by Vinu Pilakkott)

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