Excelcomindo to start roadshow

JAKARTA: Indonesia's third-largest cellular telephone operator PT Excelcomindo Pratama hopes to begin the roadshow for its debut dollar-denominated bonds later this week, people familiar with the plan said on Monday.

`"We are trying to start the roadshow Thursday if we can set up meetings with enough investors," a banker with one of the lead managers told Dow Jones Newswires. "If not, we will start the roadshow next week."

He added that the company will visit Singapore, Hong Kong, Europe and the U.S. to market the bonds.

Excelcomindo, which holds a 16 percent market share in Indonesia's cellular market, is thought to be seeking to issue up to US$300 million in bonds to refinance its debt. It has hired CSFB, Morgan Stanley and UBS as lead managers.

Standard & Poor's Ratings Services on Monday assigned a 'B+' rating to the proposed senior unsecured notes.--Dow Jones