Indonesian telecoms and satellite operator Indosat has borrowed Rp700bn (US$58.9m) from Bank Negara for debt refinancing and capex.
The facility matures in June 2015 and carries a “very competitive” interest rate, a spokesperson for the company…
Indonesian telecoms and satellite operator Indosat has borrowed Rp700bn (US$58.9m) from Bank Negara for debt refinancing and capex.
The facility matures in June 2015 and carries a “very competitive” interest rate, a spokesperson for the company said.
He declined to comment further because another funding is being negotiated.
CEO Alexander Rusli told local media that Indosat opted for a short-term loan because of high volatility in the local currency.
The operator has Rp6trn (US$525m) of debt maturing this year but it raised Rp2.4trn (US$202m) already via a stake sale and a loan.
Earlier this year, Indosat sold its 5% stake in local towerco Tower Bersama for Rp1.39trn through an accelerated book-built offering.
In an interview with TelecomFinance a few months back, Rusli said some of the debt due in 2014 would be refinanced while the rest would be repaid using cash generated from its operations.
He added: “Basically, we are looking at any opportunity to restructure our debt at the most optimum level possible.”
