Indosat sells $250m in bonds: Sources

Indosat sells $250m in bonds: Sources

SINGAPORE: The Indonesian Satellite Corp. sold US$250 million of
seven-year bonds in New York on Wednesday, people close to the
deal said.

The 7.125 percent bond maturing on June 22, 2012, priced
around 1730 GMT at 99.323, to yield 7.250 percent. Earlier in the
marketing process, Indosat was looking to pay around 7.375
percent.

A person close to the deal said Indosat did not pay much of a
premium for the new bonds over its 7.75 percent bond maturing in
2010.

The bonds are callable in 2010 at a price of 103.5626, a
person close to the deal said. There is another call in 2011 at a
price of 101.7813, the person also said.

The New York leg of the road show, originally scheduled for
Thursday, was canceled owing to strong demand for the bond --
around US$1.6 billion, the person said. As a result, the issuer
and lead managers held a conference call to take investor
questions. --Dow Jones