Indosat draws down USD450m from syndicated loan fund

21 Nov 2008

Indonesia’s second largest telecoms group Indosat has drawn down the entire USD450 million loan provided to it by a syndicate arranged by ING Bank and DBS Bank, Antara News reports. It is understood the telco requested USD150 million in September this year and yesterday withdrew a further USD300 million. Indosat president Johnny Swandi Sjam says the loan will be used partly for CAPEX requirements and also to repay part of a debt bond maturing in 2010 and 2012.

Indonesia, Indosat Ooredoo Hutchison (IOH)