Indonesian towerco Tower Bersama has hired five banks to arrange a US$250m loan, according to a Bloomberg report.
The banks reportedly mandated are Australia & New Zealand Banking Group (ANZ), Bank of Tokyo-Mitsubishi UFJ, DBS Bank, Overseas Chinese…
Indonesian towerco Tower Bersama has hired five banks to arrange a US$250m loan, according to a Bloomberg report.
The banks reportedly mandated are Australia & New Zealand Banking Group (ANZ), Bank of Tokyo-Mitsubishi UFJ, DBS Bank, Overseas Chinese Banking Group (OCBC) and United Overseas Bank (UOB).
It is suggested that the banks are looking to expand the group of mandated lead arrangers for the deal. They expect to start marketing the loan in general syndication in April.
Proceeds from the transaction will reportedly be used to help finance Tower Bersama’s acquisition of 2,500 towers from local telecoms services provider Indosat and for other capex requirements.
In February, Tower Bersama agreed to acquire the towers in a deal valued at US$519m.
Saratoga looks to sell stake in Tower Bersama
Three investors, including the Indonesian private equity firm Saratoga Capital, have initiated the sale of a combined 6.9% stake in Tower Bersama, according to a Reuters report citing sources familiar with the sale.
Saratoga Infrastructure, as well as Natural Resources Investment and a third unnamed investor, have reportedly launched the sale of 315 million shares with a guidance range of Rp2,825-Rp2,900 per share.
This would value the 6.9% stake at between Rps889.9bn (US$97m) and Rps913.5bn (US$100m).
IFR reported that the broker CLSA is the global coordinator for the deal. The joint bookrunners are CLSA and UBS. The placement agent is Indo Premier Securities.
A Tower Bersama spokesperson was not immediately available for comment.
Saratoga Infrastructure holds a 25.83% stake in Tower Bersama. The two other leading shareholders are Provident Capital Indonesia (25.1%) and Wahana Anugerah Sejahtera (25.1%).
