Indosat sets aside USD550m for bond buyback

22 Aug 2008

Indonesian telco Indosat is ring-fencing USD550 million to buy back bonds maturing in 2010 and 2012, AsiaPulse reports. The move is part of a buyback programme put in place by its new controlling shareholder Qatar Telecom (Qtel), which acquired a 40.8% stake in Indonesia’s second largest telco in June. The company has reportedly named Goldman Sachs as lead broker and HSBC as financial advisor for the buyback programme. Indosat is looking to buy back USD denominated bonds worth USD300 million maturing in 2010 and USD250 million maturing in 2012.

Indonesia, Indosat Ooredoo (incl. IM2)