Indonesian mobile operator Indosat is close to raising a Rp250bn (US$22.8m) loan to help refinance its debt and fund its 2014 capital expenditure.
A foreign bank is expected to provide the facility, TelecomFinance was told.
The loan is part of the…
Indonesian mobile operator Indosat is close to raising a Rp250bn (US$22.8m) loan to help refinance its debt and fund its 2014 capital expenditure.
A foreign bank is expected to provide the facility, TelecomFinance was told.
The loan is part of the company’s Rp2trn (US$182.4m) financing plan for 2013. In July, it secured a five-year 9% Rp1trn (US$91.2m) loan from Bank Central Asia and, earlier this month, signed another Rp750bn (US$68.4m) facility from two lenders.
The company, majority owned by Qatar-based Ooredoo, is reportedly looking to spend around Rp8trn (US$709m) in capex next year. As of 30 September, Indosat had debt of Rp22.2trn (US$2bn).
The CEO of Ooredoo, Nasser Marafih, recently said that Indosat is considering selling the 5% stake in Tower Bersama it acquired when it sold 2,500 towers to the infrastructure firm for US$406m in February 2012.
Proceeds from such a sale could be used for investments in infrastructure, networks or other purposes, he said.
