Telkomsel buys back $6.3 million 9¾% notes

New York, Nov. 18 - Telekomunikasi Selular Finance Ltd. said its parent PT Telekomunikasi Selular (Telkomsel) bought back $6.273 million principal amount of its 9¾% guaranteed notes due 2007.

The Indonesian cellular phone company paid an average price of 110.50% of par.

Telekomunikasi Selular said the buyback was done with the goal of "optimizing the funding structure" and to reduce exposure to foreign exchange rate fluctuations.

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