The Jakarta Post reports that domestic telecoms operator Indosat Ooredoo plans to issue bonds in three phases to drive forward its network expansion programme. The paper cites the company’s president director, Chris Kanter, as saying that the bonds – worth IDR10 trillion (USD706.5 million) – will comprise IDR7 trillion in conventional bonds and IDR3 trillion in Islamic bonds. The proceeds from the bond issuance will be allocated for network infrastructure expenditures – radio frequency, packet core and gateway – as well as to enhance its IT infrastructure. ‘We hope this will have a positive impact on business development so that we can increasingly focus on providing the best services to our customers,’ Chris said in in a press conference at the company’s headquarters in Jakarta. The book-building period will take place from 24 January to 6 February and Indosat Ooredoo plans to list the bonds on the Indonesia Stock Exchange (IDX) on 1 March 2019.
BCA Sekuritas, CGS CIMB Sekuritas Indonesia, DBS Vickers Sekuritas, Indo Premier Sekuritas and Mandiri Sekuritas have been appointed joint lead underwriters, while Bank Rakyat Indonesia has been appointed as trustee.