Inesia’s PT Indosat is in the process of issuing bonds worth 500 million-$700 million. A part of these funds will be used to refinance $499.4 million worth of debt maturing in 2010, and to shore up its investment plans. The remaining will be used to fund the company’s capex, which is targeted at being between $550 million and $700 million in 2010, and will be used primarily for infrastructure projects. The company, which is now in a cash-rich position, had earlier postponed its plans of holding a bond sale due to the global financial meltdown. Meanwhile, the firm is still considering the option of offloading its telecom tower assets, which are estimated to have a market valuation of $1.9 billion.
