Indonesian telecoms and satellite operator Indosat has submitted proposals to several lenders in order to secure a loan.
The company has not revealed how much it is looking to raise but Indosat is seeking to refinance about Rp1trn (US$84.3m) worth of…
Indonesian telecoms and satellite operator Indosat has submitted proposals to several lenders in order to secure a loan.
The company has not revealed how much it is looking to raise but Indosat is seeking to refinance about Rp1trn (US$84.3m) worth of debt that is due in the second half of the year, a spokesperson said.
The operator is also planning on spending up to Rp9trn (US$759m) to modernise its network.
Indosat previously indicated to SatelliteFinance that the new loan would be secured from a European and an Asian bank.
Separately, Indosat may issue a rupiah-denominated bond this year to refinance US$650m of notes due 2020 and for general purposes, the spokesperson added.
In mid-June, the company borrowed Rp700bn (US$59m) from Bank Negara Indonesia to fund its capex plans as well as for debt refinancing.
Indosat is Indonesia’s third-largest mobile operator in an eight-player market. It also has satellite operations but recently scrapped plans to launch a satellite called Palapa-E after losing the operating rights to the 150.5E orbital slot to state-owned Bank Rakyat Indonesia (BRI).
Indosat is already operating Palapa-C2 at that same orbital slot but the bird has been providing services beyond its expected lifetime.
The company still operates the Thales Alenia Space-built Palapa-D at 113E.
