Indonesia’s PT Indosat is issuing bonds worth between $500 million and $700 million in 2010. A part of these funds will be used to refinance $499.4 million worth of debts maturing in 2010 as well as to shore up its investment plans. The remaining amount will be used to fund the company’s capex, which is targeted to be between $550 million and $700 million in 2010, to be used primarily for infrastructure projects. The company, which is currently in a cash-rich position, had to postpone its earlier plans of holding a bond sale on account of the glob – al financial meltdown. Meanwhile, the firm is still considering offloading its telecom tower assets, which are estimated to have a market valuation of $1.9 billion.
