Indosat seeking USD200m syndicated loan

9 May 2008

Indonesian telecoms group PT Indosat is reportedly seeking a syndicated loan of USD200 million, reports Antara News citing the company’s deputy president Kaizad B. Beerjee. The paper writes that Indosat has commissioned the services of ING Bank (ING) and DBS Bank as arranger and emission underwriter respectively, to help it to raise money to finance capital expenditure projects totalling USD1.2 billion. The loan will come from four banks, Beerjee said, adding that the facility was supported by a so-called ‘green-shoe’ option (an underwriting agreement that gives the underwriter the right to sell investors more shares than originally planned by the issuer) which would enable Indosat’s loan facility to be increased by up to USD100 million.

Indonesia, Indosat Ooredoo (incl. IM2)