Telkomsel to raise $316 million via bonds/notes.(INDONESIA)(Brief article)

Asia Pacific Telecom, February, 2008

The biggest mobile-phone operator in Indonesia, PT Telekomunikasi Selular, plans to raise $316 million in 2008 through medium-term notes or the sale of bonds, according to a Reuters report. The report also said that Telkomsel, which is 65 percent owned by telecom giant PT Telekomunikasi Indonesia, has increased its proposed capital expenditure for 2008 to $1.7 billion.

Kiskenda Suriahardja, Telkomsel's president director, said that around half of this amount would be financed internally. The Reuters report also quoted Telkom's president director, Rinaldi Firmansyah, as saying that the majority of the external funding would be made via bank loans, adding that $211 million to $314.56 million would be raised via bonds or medium-term notes. The Telkom group plans to...

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