Indonesian cellco Bakrie Telecom has issued another US$130m worth of senior unsecured notes, reopening its 11.5% bonds due 2015, according to reports.
The new offering brings the size of the 2015 bonds to US$380m, The Asset website reported. The proceeds…
Indonesian cellco Bakrie Telecom has issued another US$130m worth of senior unsecured notes, reopening its 11.5% bonds due 2015, according to reports.
The new offering brings the size of the 2015 bonds to US$380m, The Asset website reported. The proceeds will be used to refinance bank loans, trade payables and for capex as well as other general corporate purposes.
The notes were reportedly priced at 107% to yield 9.463%. Fitch assigned an expected ‘B’ rating to the offering. Credit Suisse and Morgan Stanley acted as joint bookrunning managers for the sale.
Recently, Indonesian incumbent PT Telekomunikasi Indonesia (Telkom) said it was rethinking its US$1bn CDMA deal with Bakrie, according to Reuters. Back in October, it was reported that Bakrie would acquire the CDMA assets of Telkom before the end of 2010 in a share swap deal.
The company could not be reached for comment before the press deadline.
