Jakarta. Visi Media Asia, the media holding company of Bakrie Group, plans to raise Rp 1.2 trillion ($100 million) from a bond sale in the second quarter of next year.
Visis Media’s corporate secretary Neil Tobing said on Wednesday that the company is waiting for additional signs of stability in the political and economic situation before proceeding with the plan to sell the bonds.
The proceeds from the bonds will be used to pay half of its $220 million debt from Credit Suisse. Visi Media plans to sell a part of its stake in Intermedia Capital, which controls free-to-air television station ANTV.
Other Visi Media units are Lativi Media Karya, which runs the free-to-air television station TVOne and Viva Media Baru, which runs the digital news portal Vivanews.com.