Jan 25, 2011

BTEL picks CS, Morgan Stanley for bond

CDMA-based operator PT Bakrie Telecom Tbk (BTEL) has appointed Credit Suisse as the sole global coordinator of the global bond issuance.
Credit Suisse and Morgan Stanley will become the joint bookrunners of the corporate action. In information disclosure submitted to Indonesia Stock Exchange (IDX) yesterday, the management of the company said that the agreement with Credit Suisse and Morgan Stanley have not yet signed.
“Remembering a binding agreement which have not yet signed when this announcement published, then the bond issuance may or may not be happened," he said in the information disclosure to IDX.
The company will give further announcement after the signing of the agreement. Previously, Bakrie Telecom is now reviewing the bond issuance plan of US$200 million. If the bond price is profitable by the company then the figure will be raised.

Disclosure: No position at the stock mentioned above.

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