Indosat seals USD450 million syndicated loan for network expansion

13 Jun 2008

Indonesian telecoms operator Indosat has secured USD450 million worth of syndicated loans to fund its capital expenditure plans to expand network coverage on Java and in other parts of the country. Indosat, which announced the loans in a statement late on Thursday, plans up to USD1.2 billion capital spending in 2008. Reuters reports that ING Bank and DBS Bank will be the lead arrangers and bookrunners for the syndicated loans, which mature in five years.

Indonesia, Indosat Ooredoo Hutchison (IOH)