Indosat raises bond issue to Rp 1.25t

Indosat raises bond issue to Rp 1.25t

JAKARTA: PT Indonesian Satellite Corp., or Indosat, said Thursday
it will raise the size of its bond offering to Rp 1.25 trillion
rupiah ($1=Rp 9,210) from Rp 1 trillion due to strong interest.

"Indosat commissioners have approved our proposal to raise the
amount," Indosat's President Director Widya Purnama told
reporters.

Indosat officials said Tuesday the bond had been more than
twice oversubscribed.

As reported, the Indosat bond is to be issued in four
trenches, although amounts for each trance haven't been fixed.
The funds raised from the issue will be used to refinance
existing debt and to expand Indosat's cellular business. -- Dow
Jones