Indonesian towerco Protelindo plans to issue US$750m notes in order to finance its expansion plans.
The bonds will mature in 2023 and have a coupon set at a maximum of 10%, said the company in a prospectus sent to the Indonesia Stock Exchange, according…
Indonesian towerco Protelindo plans to issue US$750m notes in order to finance its expansion plans.
The bonds will mature in 2023 and have a coupon set at a maximum of 10%, said the company in a prospectus sent to the Indonesia Stock Exchange, according to media reports.
The proceeds from the notes will be used to refinance existing debt and finance various development plans, said the prospectus.
As TelecomFinance reported last month, Protelindo has agreed to acquire towers in the Netherlands from KPN for €75m (US$97m) and lease them back to the Dutch telco.
Protelindo is a subsidiary of holding company Sarana Menara Nusantara, which bought 200 towers from Central Investindo and Mitra Karya Propertindo for Rp376bn (US$6.7bn) earlier this year.
Protelindo owns and operates over 7,500 towers in Indonesia according to its website.
