Jun 22, 2010

Indosat awaits bond issue until August

Indonesia's second largest cellular operator PT Indosat Tbk (ISAT) awaits until August 2010 before it launches US$500 million-US$700 million of bond.
"We still have time until August to prepare bond issuance. We are not in a hurry because the company remains looking the best price and the lowest cost," said Indosat Finance Director Peter Wladyslaw Kuncewiz speaking in a press conference today.
He said if Indosat wouldn't meet the price, it still had another option of financing. "We can obtain bilateral of loan commitment," said Indosat CEO Harry Sasongko Tirtotjondro.
The company requires financing to pay debt and fulfill capital expenditure of US$550 million-US$700 million this year. Indosat has to pay matured loan of US$450 million in November 2010.
Indosat also plans to set an infrastruture synergies with Indonesia's largest telecommunication operator PT Telekomunikasi Indonesia Tbk (Telkom).
"We consider synergies with Telkom. But, we haven't decided yet," he said. Harry declined to explain more detail about possible synergies with Telkom.

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