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NEWS UPDATES 29 November 2009

Indonesia’s top telecom firm needs $1bn to finance capex

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Indonesia’s largest telcom operator PT Telekomunikasi Indonesia (Telkom) is seeking $1 billion in loans to finance next year's capital expenditure, estimated to require a total of $2 billion, the Jakarta Post reported.

The firm also expects to raise funds from issuing bonds and securing vendor financing deals, Telkom finance director Sudiro Asno said after a meeting with the House of Representatives on Thursday.

"We have signed vendor financing deals with Huawei and ZTE with a total value of $400 million, from which we have only used $60 million so far," he said.

With regard to the bond issuance, Sudiro said that the company was still in the process of selecting the underwriters. "We hope we can issue the bonds in the first semester of 2010," he said. 


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