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Telekom Malaysia to buy back $150m debt
18 November 2009
Telekom Malaysia plans to reduce foreign currency borrowings to lower exposure to risk. It will repurchase around $150 million of bonds
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Telekom Malaysia
Telekom Malaysia plans to reduce foreign currency borrowings to lower exposure to risk. It will repurchase around $150 million of bondsTelekom Malaysia is planning to repurchase around $150 million of bonds from investors, according to reports. The fixed-line services provider is aiming at reducing its foreign currency borrowings to lower exposure to foreign currency risk.
It has invited investors holding $300 million of notes due 2010 and $500 million of notes due 2014 to take part in the offer.
The 2014 notes are traded on Labuan International Financial Exchange as well as the Luxembourg Stock Exchange, while the 2010 notes are listed on the Luxembourg Stock Exchange.
Deutsche Bank and HSBC are the joint dealer managers.
After the company’s demerger in 2008, it separated its mobile phone operations and its regional assets, keeping only the domestic fixed-line voice, data and broadband business. GTB