PT Indosat Tbk to set a price of 99.478 to yield 7.45 percent over the Guaranteed Senior Notes of U.S. $ 650 million. It is the largest bond offering from a company in Indonesia in 2010.
Bonds will be issued by a wholly owned subsidiary
entirely by Indosat, the Palapa Company BV Indosat. Notes with a maturity of 10 years it got a rating of Ba1 from Moody's, Standard and Poors (BB), and BBB-from Fitch. The issuance of these bonds is expected to be completed on July 29, 2010. "The offering attracted substantial global institutional investors and private banking," said President and Chief Executive Officer (CEO), Indosat, Harry Sasongko Tirtotjondro, in a written explanation in Jakarta, Tuesday, July 27, 2010.
Notes has an interest rate of 7.375 percent and will mature on July 29, 2020. The bonds can not be withdrawn for a period of five years and guaranteed by Indosat.
Bonds will be issued under the laws of the state of New York, and listed on the SGX-ST, Singapore.
According to Harry, the net proceeds from the transaction will be used to finance corporate bonds that mature in 2010 and 2012 and to pay other debts.
Asian investors bought 40 percent of registered child bond is our business. Meanwhile, U.S. investors by 33 percent and Europe 27 percent.
For the type of investors, investment managers bought 70 percent, 15 percent of private banks, insurance and pension fund 8 percent, 5 percent of the bank, and others 2 percent.
"Acquisition of long-term financing with attractive interest rates is evidence of market confidence in Indosat," says Harry.
According to him, Indosat also ensure that the company will maintain strong liquidity levels and contribute to the company's financial strength and sustainable efficiency.
For the issuance of notes, Indosat appointed Citigroup Global Markets Limited as joint book runners coordinator with DBS Bank Ltd., Deutsche Bank AG, Singapore Branch, The Hongkong and Shanghai Banking Corporation Limited, and The Royal Bank of Scotland plc
Bonds will be issued by a wholly owned subsidiary
entirely by Indosat, the Palapa Company BV Indosat. Notes with a maturity of 10 years it got a rating of Ba1 from Moody's, Standard and Poors (BB), and BBB-from Fitch. The issuance of these bonds is expected to be completed on July 29, 2010. "The offering attracted substantial global institutional investors and private banking," said President and Chief Executive Officer (CEO), Indosat, Harry Sasongko Tirtotjondro, in a written explanation in Jakarta, Tuesday, July 27, 2010.
Notes has an interest rate of 7.375 percent and will mature on July 29, 2020. The bonds can not be withdrawn for a period of five years and guaranteed by Indosat.
Bonds will be issued under the laws of the state of New York, and listed on the SGX-ST, Singapore.
According to Harry, the net proceeds from the transaction will be used to finance corporate bonds that mature in 2010 and 2012 and to pay other debts.
Asian investors bought 40 percent of registered child bond is our business. Meanwhile, U.S. investors by 33 percent and Europe 27 percent.
For the type of investors, investment managers bought 70 percent, 15 percent of private banks, insurance and pension fund 8 percent, 5 percent of the bank, and others 2 percent.
"Acquisition of long-term financing with attractive interest rates is evidence of market confidence in Indosat," says Harry.
According to him, Indosat also ensure that the company will maintain strong liquidity levels and contribute to the company's financial strength and sustainable efficiency.
For the issuance of notes, Indosat appointed Citigroup Global Markets Limited as joint book runners coordinator with DBS Bank Ltd., Deutsche Bank AG, Singapore Branch, The Hongkong and Shanghai Banking Corporation Limited, and The Royal Bank of Scotland plc
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