Indonesian satellite and telecoms operator Indosat aims to issue notes worth around Rp2.5trn (US$197.5m) before the end of Q3 in the second stage of its two-year bond programme.
The first Rp2.5trn of the Rp10trn scheme was issued in December, and a…
Indonesian satellite and telecoms operator Indosat aims to issue notes worth around Rp2.5trn (US$197.5m) before the end of Q3 in the second stage of its two-year bond programme.
The first Rp2.5trn of the Rp10trn scheme was issued in December, and a spokesman said the proceeds will go towards refinancing a US$650m bond this year that is due in 2020.
BCA Sekuritas, DBS Vickers Securities Indonesia, Danareksa Sekuritas, HSBC Securities Indonesia and Mandiri Sekuritas are underwriters for the new bond programme
The spokesman said Indosat is also part way through securing a US$450m revolving credit facility through a bilateral agreement with several banks.
Elsewhere in Indonesia, incumbent telco and satellite operator Telkom recently revealed it has scrapped plans to buy a stake in New Zealand mobile operator 2degrees over a disagreement on price.
Reports last year said the group was close to buying 25%-30% of 2degrees, which is controlled by US venture capital firm Trilogy International Partners.
Telkom said it was still looking for potential telco partners in several countries, particularly in Asia and the Middle East.
Trilogy International Partners holds 60% of 2degrees after picking up an initial 26% in 2008, when it was a greenfield mobile wireless operator called New Zealand Communications.
Hautaki Trust, which represents New Zealand’s Maori population, also owns a stake in the telco.
Telkom’s newly-appointed CEO Alex Sinaga said earlier this month that it was considering issuing bonds to help finance its US$1.8bn capital expenditure for 2015.
He said the group planned to build towers, develop cable, fibre and satellite infrastructure, and look to expand its international presence.
