Indonesia's Indosat plans dual tranche 1 trillion offering of rupiah-denominated bonds

By Reshmi Basu

New York, May 11 - PT Indosat Tbk said it plans to issue a dual tranche offering of conventional bonds and Shariah bonds in the amount of 1 trillion rupiah.

The company plans to issue six-year conventional bonds up to 1 trillion rupiah at an indicative range of 11¾% to 12¼%.

In addition, the company also plans to issue up to 200 billion rupiah of six-year Shariah bonds at a range of 11¾% to 12¼%.

The total amount of the offering will be 1 trillion rupiah, according to the statement.

Both bond issuances will carry a call option at the end of the fourth year.

Proceeds from the company's bond issues will be used to finance capital expenditures.

The bookbuilding started Tuesday and will run through May 23. The issue date will be June 16.

PT Andalan Artha Advinsindo Sekuritas is the lead underwriter.

The issuer is a Jakarta, Indonesia-based cellular phone operator.

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