Indosat injects $75m into Satelindo

Wed, 24 Jul 2002, 00:00 WIB | Source: DJ

JAKARTA: PT Indonesian Satellite Corp., or Indosat, has
injected US$75 million into its unit PT Satelit Palapa Indonesia,
or Satelindo, Indosat Chief Executive Widya Purnama told
reporters Tuesday.

Purnama said the funds, which are aimed at reducing the debt
of the cellular unit, came from a bridging loan from PT Bank
Central Asia.

The loan has a tenure of 6 months, carrying an 8.6 percent
interest rate.

Indosat holds 77 percent of Satelindo, the country's second
largest cell phone operator.

He said Indosat is still mulling a plan to issue U.S. dollar
bonds to refinance the loan when it comes due in January.

Purnama didn't provide further details. -- Dow Jones

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