A few days after securing a Rp700bn (US$59m) short-term loan, Indonesian telecoms and satellite operator Indosat is looking to raise a new facility of less than Rp1trn (US$83.3m).
The exact value has not been disclosed but it is understood that the new…
A few days after securing a Rp700bn (US$59m) short-term loan, Indonesian telecoms and satellite operator Indosat is looking to raise a new facility of less than Rp1trn (US$83.3m).
The exact value has not been disclosed but it is understood that the new loan will be secured from a European and an Asian banks.
Proceeds will be spent on its 2014 capital expenditure, which includes modernising its network and infrastructure.
A week ago, Indosat borrowed Rp700bn from Bank Negara Indonesia to fund its capex and for debt refinancing.
The operator has Rp6trn (US$525m) of debt maturing this year and has already raised Rp2.4trn (US$202m) via a stake sale and a loan to help with the refinancing.
In an interview with TelecomFinance a few months back, 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.”
