Ratelindo plans to issue bonds

JAKARTA: Indonesia's telecommunications company PT Radio Telepon Indonesia, or Ratelindo, said on Tuesday that it plans to issue Rp 500 billion of bonds in September to expand its business.

The proceeds of the bonds will be used to develop a Code Division Multiple Access, or CDMA, network service, Ratelindo's director, Beta Winarto, told reporters.

He said the company expects to develop next year a service that can handle 50,000 phone lines that make use of CDMA technology.

Ratelindo is a unit of diversified holding company PT Bakrie & Brothers. -- Dow Jones