Indonesian towerco Protelindo has secured loans totalling US$575m and a €40m (US$52m) bridge facility from three banks.
DBS Bank, ING and Standard Chartered are the lenders, according to a Bloomberg report cited in the Jakarta Globe.
The loan will be…
Indonesian towerco Protelindo has secured loans totalling US$575m and a €40m (US$52m) bridge facility from three banks.
DBS Bank, ING and Standard Chartered are the lenders, according to a Bloomberg report cited in the Jakarta Globe.
The loan will be used to refinance the company’s debt and the bridge facility will help to finance Protelindo’s acquisition of towers from Dutch telco KPN, the report added.
As TelecomFinance previously reported, Protelindo agreed to acquire and lease back towers in the Netherlands from KPN for €75m (US$97m) back in October.
The news of the loan follows last month’s announcement that Protelindo planned to issue US$750m notes in order to finance its development plans and refinance existing debt.
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.
