Indosat close to securing refinancing deal

3 Sep 2003

Indonesia’s second largest telco is close to signing a USD560 million refinancing deal, in a move which could pave the way for the merger of two of its wireless subsidiaries, Satelindo and IM3. According to sources close to the company, Indosat’s principal shareholder ST Telemedia has encouraged the company to speed up the refinancing to take advantage of low interest rates.