Tuesday, April 17, 2007

Bakrie Telecom to Issue IDR500 Billion Bonds

PT Bakrie Telecom Tbk has planned to issue IDR500 billion bonds. The company has assigned Danatama Makmur as the underwriter. At present the syndication of local and international banks are competing to provide IDR110 million to Bakrie Telecom.
The company is searching for US$220 million debt. Half of the debt has been provided by its vendors, Huawei and Nortel.
The company has planed to expand its capacity so that it may serve 4.2 million customers. Bakrie Telecom sets aside the capital expenditure of IDR2 trillion this year, an increase of 74% from last year's allocation of IDR1.15 trillion. The company has increased the capital expenditure as it has got the license to operate nationally.

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