Indosat to Raise $154m From Bonds to Repay Debts
Jakarta. Indosat, a leading Indonesian telecommunication company, plans to raise as much as $154 million from a bond offering planned for either May or June in order to repay its debts.
Indosat will use the bonds’ proceeds to pay back some of the $650 million in guaranteed notes due 2020.
“The issuance value will depend on market conditions,” said Indosat finance director Curt Stefan Carlsson in Jakarta last week.
He noted that the rupiah, having weakened 5.2 percent against US dollar so far this year, would pose a challenge to the bond issue.
Source: The Jakarta Globe