A few days after securing a Rp700bn (US$59m) short-term loan, Indonesian telecoms and satellite operator Indosat is looking to raise a new facility of less than Rp1trn (US$83.3m).
The exact value has not been disclosed but it is understood that the new…
A few days after securing a Rp700bn (US$59m) short-term loan, Indonesian telecoms and satellite operator Indosat is looking to raise a new facility of less than Rp1trn (US$83.3m).
The exact value has not been disclosed but it is understood that the new loan will be secured from a European and an Asian bank.
Proceeds will go towards its 2014 capital expenditure plans, which include modernising its telecoms network and infrastructure.
A week ago, Indosat borrowed Rp700bn from Bank Negara Indonesia to both fund its capex and for debt refinancing.
The operator has Rp6trn (US$525m) of debt maturing this year and has already raised Rp2.4trn (US$202m) via a stake sale and a loan to help with the refinancing.
In an interview with SatelliteFinance in January, Indosat CEO Alexander Rusli said some of the debt due in 2014 would be refinanced while the rest would be repaid using cash generated from its operations.
Separately, Indosat recently abandoned plans to launch its Palapa-E satellite after losing the operating rights to the 150.5E orbital slot to state-owned Bank Rakyat Indonesia (BRI). The company still operates Palapa-D at 113E.
