Indonesia-based Telkom is planning to borrow up to $400 million to buy out SingTel’s stake in its tower business, Telkomsel.

Indonesia-based Telkom is planning to borrow up to $400 million to I buy out SingTel’s stake in its tower business, Telkomsel.Telkomsel has a portfolio of about 20,000 telecom towers. So far, Telkom has arranged standby loans of about $388.2 million from local banks. It will borrow an additional $330.94 million in June 2010 by issuing bonds to part-finance its $860.45 million debt. The Macquarie Group will advise the operator on the deal.

Once the deal is completed, the company will consolidate Telkomsel’s tower business with its infrastructure unit, PT Dayamitra Telekomunikasi.