Jul 16, 2010

Telkomsel seals US$800 mio loan

Indonesia's biggest GSM operator player PT Telekomunikasi Selular (Telkomsel), subsidiary of PT Telekomunikasi Indonesia Tbk (Telkom), has secured bank loan facilities to underpin business expansion.
"Total loan we obtained reaches US$800 million," said Telkomsel President Director Sarwoto Atmosutarno quoted by Kontan today. 
According to him, Telkomsel has sealed loan facilities from banks headquartered in Finland, Sweden, and Citic Bank China. "Telkomsel will use the loan facility to import mobile handset."
Telkomsel will utilize US$400 million of the facility this year, while the remaining will be used next year. 

Disclosure: No position at the stock mentioned above. 

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