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Indosat Ooredoo plans to issue bonds in Q2
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A technician from telecommunications operator PT Indosat carries out maintenance work at one of the company’s base transceiver stations (BTS) in Jakarta. (JP/Ricky Yudhistira)
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elecommunications provider PT Indosat, also known as Indosat Ooredoo, plans to issue bonds in the second quarter to decrease the foreign portion of its total debt from 12 to 9 percent.
Indosat Ooredoo president director Alexander Rusli said on Monday that his company was still looking for the right underwriter for the bond issuance.
“We’re also still discussing the exact value of the bonds,” he said.
The company last year decreased its foreign debt by 58.3 percent to US$180 million from $432.1 million in 2015, according to a memo released on the company’s official website.
(Read also: Indosat Ooredoo net income soars 184.4 percent)
Alexander said his company also planned to submit a proposal to the Financial Services Authority (OJK) in the coming weeks for the extension of the company’s permit for continuous bond offerings in the next three years,
Indosat Ooredoo last year recorded a 9 percent increase in its consolidated revenues to Rp 29.2 trillion (US$2.19 billion), of which 43 percent was booked from data services, 32 percent from call services, 21 percent from SMS services and 5 percent from value-added services. (yon/bbn)
