If the project is deemed successful, the publicly-listed carriers, who have a combined subscribers of some 110.5 million, are planning to pursue the partnership further in the future and expand into core network sharing. (ID Photo/Tino Oktaviano)

Tower Bersama Gears Up for Bond Issuance to Repay Debt

BY :FARID FIRDAUS

SEPTEMBER 11, 2015

Jakarta. Listed telecommunications tower operator Tower Bersama Infrastructure plans to raise Rp 1 trillion ($69 million) from issuing bonds in October or November, as part of its effort to pay back some of its debt.

The company has $200 million in outstanding loans due in the fourth quarter, Tower Bersama finance director Helmy Yusman Santoso said on Thursday.

The company also plans to extend the payment period on overseas debt to ease pressure on its finances amid the depreciating rupiah, Helmy said.

Tower Bersama missed out on an opportunity to expand its network after a share-swap deal with the tower unit of state-owned Telekomunikasi Indonesia, Indonesia largest telecom firm, was cancelled.

Investor Daily

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