PT Indosat Tbk, Indonesia's second biggest phone operator, delayed a planned dollar bond sale until market conditions improve. Indosat, hired five banks to help it sell US$500 million of bonds.
Citigroup Inc., HSBC Holdings Plc, Deutsche Bank AG, DBS Group Holdings Ltd. and Royal Bank of Scotland Group Plc are managing the sale.
Indosat began meetings with investors in Asia, the U.S. and Europe on May 12 to gauge demand for a global bond sale.
The company also extended a deadline for bondholders to accept their cash offer to buy back notes due 2010 and 2012. The early tender date for bondholders was extended to 5:00
p.m. in New York on June 7, according to the statement.
p.m. in New York on June 7, according to the statement.
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