*PT Indosat Tbk (IIDX: SAT) raises fresh funds worth Rp900 billion ($65.69 million) through conventional and sharia bonds issued on Nov. 23. Based on announcement published on Monday. The bonds have four series with coupon rate ranging form 10.00% for three years period, 10.25% for five years, 10.50% for seven years and 11.20% for ten years period. While sharia bonds have tenor of seven and ten years.
The company said, 25% of the proceeds will be used to refinance loan from PT Bank Central Asia Tbk (BBCA) worth Rp1 trillion and PT Bank Sumitomo Mitsui Indonesia Tbk Rp 650 billion, 37% of base station subsystem purchase and 38% to pay license fee for radio frequency spectrum to the government. PT Indopremier Securities, PT DBS Vickers Securities Indonesia and PT BCA Sekurities were acting as a joint lead underwriter for the bond issuance. The bond have rating AAA (idn) from Fitch rating and Pefindo.
*PT XL Axiata Tbk (IDX: EXCL) offered four series of sharia bonds with total amount of Rp1.5 trillion with 370 days, three, five and seven years of tenures respectively. Most of the proceeds will be used to finance the company’s expansion and to pay license fee for radio frequency spectrum to the government. PT CIMB Securities Indonesia, PT Mandiri Sekuritas and PT Maybank Kim Eng Securities underwrite the bonds issue.
*PT Bakrie Telecom Tbk (IDX: BTEL) will issue new shares as much as Rp7.60 trillion ($5.55 billion) to cover mandatory convertible bond (CB) as part of a debt-restructuring scheme as a follow-up to a court ruling in December 2014. In a prospectus submit to Indonesia Stock Exchange (IDX), Bakrie Telecom said it planned to offer 10-year convertible bonds Rp4.37 trillion ($319 million) in rupiah denominated and up to $235.67 million in dollar-denominated listed in Singapore bourse which will converted to as much as 56% of the company shares at a price of Rp 200 each. Both plans are awaiting approval from a general shareholders’ meeting scheduled for Jan. 12.