Indonesian telco Indosat is reportedly close to securing a US$450m revolver to help refinance the roughly Rp2trn (US$171.23m) in debt it has maturing this year.
The facility will have a tenure of less than five years and could be secured by the third…
Indonesian telco Indosat is reportedly close to securing a US$450m revolver to help refinance the roughly Rp2trn (US$171.23m) in debt it has maturing this year.
The facility will have a tenure of less than five years and could be secured by the third quarter, reported local daily Kontan.
Indonesia’s third-largest mobile operator, which has outlined plans to spend up to Rp9trn (US$769m) to upgrade its infrastructure, could not be reached for comment before the press deadline.
However, it has previously indicated that a new loan would be secured from a European and an Asian bank. Earlier this year, a spokesperson said it could also issue a rupiah-denominated bond in 2014 to refinance US$650m of notes due 2020.
In June it borrowed Rp700bn (US$59m) from Bank Negara Indonesia to help refinance debt.
There are eight mobile operators in Indonesia’s crowded market. To help cut costs, Indosat is considering options to sell its remaining 7,500 towers, after selling 2,500 sites in 2012.
Local rival Tower Bersama has confirmed plans to offload some of its infrastructure this year, and its assets have attracted local players including Tower Bersama, Solusi Tunas Pratama and Nusantara Infrastructure.
