Mobile-8 completes high-yield bond

13 Aug 2007

Indonesian mobile operator Mobile-8 Telecom has completed its first bond offer, despite a volatile market, although the deal was downsized from USD150 million to USD100 million. Mobile-8, the country’s fifth largest wireless carrier by subscribers, priced a five-and-a-half year non-call-three USD100 million debut bond early Thursday morning, via sole-bookrunner Lehman Brothers. Mobile-8 plans to use the proceeds of the bind offer for refinancing, the purchase of network equipment and for general corporate purposes.

Indonesia, Mobile-8 Telecom