Indosat Raises $202m in Bond Sale

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Indonesia’s PT Indosat is conducting a 2.5 trillion rupiah ($202 million) bond sale to help refinance debt and pay for a mobile license.

The operator is offering 2.31 trillion rupiah in conventional bonds and a further 190 billion worth of Islamic bonds, the Jakarta Post reported.

The bonds were issued earlier this week and will be listed on the Indonesian Stock Exchange on December 15

Around 78% of the proceeds will be used to refinance debts and 22% will be used to obtain a 10-year license to spectrum in the 800-MHz, 900-MHz and 1,800-MHz bands. Payments for the license will be made annually.

PT Indosat has been working to reduce its total debts to help regain profitability, and has slashed its debts to 21.57 trillion rupees from 22.24 trillion rupees. Original post at Telecom Asia

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Wahengbam Rorrkychand

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