Indonesia's largest telecommunication operator PT Telekomunikasi Indonesia Tbk (Telkom) has determined to issue Rp1 trillion of 5 year series A bond with an annual coupon rate of 9.60% and another Rp1.99 trillion of 10 year bond with coupon rate of 10.20% annually.
In a prospectus published today, three lead underwriters PT Bahana Securities is committed to underwrite Rp998 billion of Telkom's bonds or 33.27% stakes, while PT Danareksa Sekuritas and PT Mandiri Sekuritas are also committed to underwrite Rp998 billion or 33.27% respectively.
The lead underwriters are also working with five other underwriters, PT Bumiputera Capital Indonesia, PT Mega Capital Indonesia, PT Nusantara Capital Securities, PT Samuel Sekuritas Indonesia, and PT Victoria Securities.
Bumiputera Capital and Mega Capital have committed to underwrite Rp1 billion and Rp2 billion respectively, while Nusantara Capital, Samuel Sekuritas, and Victoria have committed to absorb Rp3 billion, Rp1 billion, and Rp2 billion respectively of Telkom's bonds.
According to the prospectus, Telkom will use 50% of the bonds issuance to support new wave business, softswitch, datacom, and technology information, 40% for infrastructure developments, and the remaining for optimizing legacy and supporting facilities.
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