PT MNC Sky Vision, Indonesia pay-TV leader pricing US$169 milion bond at 12.75%. The notes due 2015, to be issued by Aerospace Satellite Corp. Holding BV, a special-purpose finance vehicle fully owned by MNC Sky Vision (Sky Vision).
Moody's Investor Service has assigned definitive B2 rating. The proceeds from this issuance will contribute to the acquisition ofS-Band satellite transponders from SES S.A. for $95 million and the refinancing of existing indebtedness.
Sky Vision is a provider of direct to home pay-TV services. It is 75% owned by PT Global Mediacom Tbk, a diversified media company, which is in turn 51% owned by PT Bhakti Investama Tbk. PT Bhakti Investama Tbk holds an additional 20% direct stake in Sky Vision.
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