Publicly listed telecommunications operator PT Indosat announced on Wednesday that it would buy back all of its US$650 million bonds, which were to due to mature in 2020, on July 29 with a redemption price of $673
ublicly listed telecommunications operator PT Indosat announced on Wednesday that it would buy back all of its US$650 million bonds, which were to due to mature in 2020, on July 29 with a redemption price of $673.97 million.
On Friday, the firm's subsidiary, Indosat Palapa Company B.V. (IPBV), requested Bank of New York Mellon, as the bond trustee, to inform bondholders that the bonds, called Notes 2020, would be redeemed.
According to the bond indenture, dated on July 29, 2010 and signed by Indosat, IPBV and Bank of New York, redemption of the Notes 2020 would be on July 29 this year.
The redemption price is equal to 103.7 percent of initial amount of $650 million, plus unpaid interest, if any, that would accumulate up until the redemption date, said Indosat president director Alexander Rusli in a disclosure submitted to the Jakarta Stock Exchange (IDX) on Wednesday.
Indosat spokesman Andromeda H. Tristanto said previously that his firm had secured US-denominated credit facilities worth $500 million and rupiah-denominated loans worth $150 million to buy back the bonds.
The local currency-denominated debts comprise both bank loans and bonds.
Indosat's shares, which are traded on the stock market under the code ISAT, closed at Rp 3,970 a piece in today's first trading session from Rp 3,930 per piece at the opening. (ika)(+++)
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