Indonesia's Indosat to issue 1.5 trillion rupiah in three tranche offer

By Aaron Hochman-Zimmerman

New York, Feb. 26 - PT Indostat Tbk. (AA+, local) will issue 1.5 trillion rupiah in two conventional tranches and one sukuk, according to a press release.

Five- and seven-year conventional tranches will be worth 500 billion rupiah each.

The five-year bond is expected to carry a fixed rate coupon equivalent to FR 0033 plus 75 basis points to 100 bps.

The seven-year bond is expected to carry a fixed rate coupon equivalent to FR 0027 plus 80 bps to 105 bps.

The remaining 500 billion rupiah will be raised via a five-year sukuk.

The sukuk is expected to carry a fixed rate coupon equivalent to FR 0033 plus 75 bps to 100 bps.

The book will be open between Feb. 25 and March 6. The issue is expected on April 9.

Danareksa Sekuritas and Mandiri Sekuritas will act as bookrunners for the deal.

Proceeds will be used to fund the company's expansion plans.

Indostat is a Jakarta-based telecommunications provider.

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