Indosat Plans To Raise Bonds

Jakarta, May 15 (ANTARA) - State telecommunications operator PT Indosat Tbk is planning to raise the value of bonds it will issue at the end of May or early June this year. "The value of the bonds is expected to increase to up to Rp3 trillion," Indosat Finance Director Curt Stefen Carlsson said on Monday. The company would use proceeds from the issuance of the bonds to meet part of capital expenditure needs projected to reach Rp6 trillion as well as to repay maturing debts this year, he said. According to corporate information issued to the Indonesia Stock Exchange (BEI) last Wednesday, the amount of Indosat`s maturing debts this year reached Rp3.5 trillion. The debts consist of dollar-denominated debts worth Rp2.02 trillion and rupiah-denominated debts worth Rp1.28 trillion. The amount of the company`s maturing debts is projected to reach Rp3.82 trillion in 2013 and Rp5.99 trillion in 2014. The dollar-denominated debts and rupiah-denominated debts respectively accounted for 49.5 percent and 50.5 percent of the overall debts.