Indonesian telecoms and satellite operator Indosat will need to secure at least Rp3.6trn (US$315.3m) in funding to repay and refinance debt maturing this year.
Local reports earlier indicated that the company is currently in talks with banks.
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Indonesian telecoms and satellite operator Indosat will need to secure at least Rp3.6trn (US$315.3m) in funding to repay and refinance debt maturing this year.
Local reports earlier indicated that the company is currently in talks with banks.
A spokesperson declined to confirm the information but pointed to the fact that Indosat has Rp6trn (US$525m) of debt maturing this year, adding that Rp2.4trn is already close to being secured via a stake sale and a loan.
A few days ago, the Indonesian operator sold its 5% stake in local towerco Tower Bersama for Rp1.39trn (US$123m) through an accelerated book-built offering.
Separately, the company expects to sign a Rp1trn (US$87.5m) loan soon.
In an interview with TelecomFinance earlier this year, Indosat CEO Alexander Rusli said some of the debt due in 2014 would be refinanced while the rest would be repaid using cash generated from its operations.
He added: “Basically, we are looking at any opportunity to restructure our debt at the most optimum level possible.”
