Telkom hires ABN Amro for bond sale

Thu, 04 Nov 2004 | Source: AP

JAKARTA: PT Telekomunikasi Indonesia, the nation's biggest phone company, hired ABN Amro Holding NV and three other banks to help it sell about Rp 1.1 trillion (US$123 million) of debt securities in December.

The other banks are Jakarta-based Bahana Securities, Mandiri Sekuritas and BNI Securities, Telkom Finance Director Rinaldi Firmansyah said in a conference call with analysts.

The Bandung, West Java-based company plans to sell notes with maturities ranging from six months to three years to refinance $147 million of dollar-denominated debt, Firmansyah said Oct. 22.

Telkom has been trying to cut its dollar debt after it booked foreign currency losses of Rp 869 billion in the first six months of the year, cutting its net income in the period by almost a fifth. -- Bloomberg

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