Indonesian infrastructure operator Tower Bersama has presented a plan to offer up to US$500m in global notes.
It intends to use proceeds from the seven-year bond for capital expenditure and to repay debt, according to a company filing.
The notes will…
Indonesian infrastructure operator Tower Bersama has presented a plan to offer up to US$500m in global notes.
It intends to use proceeds from the seven-year bond for capital expenditure and to repay debt, according to a company filing.
The notes will pay a coupon of up to 8% and Bersama will seek shareholder approval for the offering at its AGM next month.
No guidance has been given for when the bond would be issued, but a director of the towerco was quoted by local press as saying that the bond may not come to market before the end of 2014.
Last December Bersama priced its first-ever rupiah-denominated bond raising Rp740bn (US$62.5m). In the previous month the towerco set up a Rp4trn (US$348.2m) bond programme.
Bersama generated revenue of Rp2.7bn and EBITDA of Rp2.2bn, for the full year ending 31 December 2013.
As of the end of last year the company boasts 16,577 tenants and 10,134 telecommunication sites.
