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Telekomunikasi Indonesia plans $326m bond issue
04 June 2010
Telkom Indonesia to issue bonds to support capital expenditure
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Telekomunikasi Indonesia (Telkom Indonesia) is set to issue about $326 million in bonds. The company will offer the debt on June 28 2010 and June 29 2010. The proceeds will be partly used to increase the company’s capital expenditure.
The company will sell the bonds in two parts, one maturing in five years and other expiring in 10 years. It has not unveiled the size and coupon for each tranche.
The bonds will be traded on the Indonesian bourse on July 5 2010 and the issue will be underwritten by Bahana Securities, Danareksa Sekuritas, and Mandiri Sekuritas.
Telekomunikasi Indonesia’s president director, Rinaldi Firmansyah, could be replaced at a meeting of the company’s shareholders on June 11. Sahala Lumban Gaol, deputy minister of state-owned enterprises, recently declined to answer directly when asked if Firmansyah would be replaced, but said shareholders would discuss whether to retain him and other directors and commissioners. Firmansyah’s three-year term will come to an end in 2010. GTB