Code division multiple access (CDMA) based cellular operator PT Bakrie Telecom Tbk (BTEL) is planning to pay US$32.70 million debt to Credit Suisse AG, Singapore branch, using proceed of US$130 million bond issuance.
In a prospectus published today, Bakrie Telecom will use the proceed to pay debt and purchase of telecommunication equipments of US$50 million, US$7.50 million to support interest reserve account, and the remaining is intended to support working capital and additional BTS. Credit Suisse and Morgan Stanley are lead arrangers for the bond issuance.
Disclosure: No position at the stock mentioned above.
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