Indonesian carrier PT Indosat is considering plans to secure bank loans and rupiah-denominated bonds to help finance a buy-back plan in 2015, ostensibly to cut the operator’s IDR23.4 trillion (USD2 billion) of debt. The plan is designed in part to halve the company’s proportion of dollar-denominated debt next year to 25% of the total, says CFO Stefan Carlsson. Although the company has invested IDR1.6 trillion of its CAPEX in 1Q14 in an effort to modernise its networks, Indosat has seen increasing numbers of users moving to its competitors – such as Telkomsel and XL Axiata. Indosat, majority owned by Qatar’s telco Ooredoo, is setting aside up to IDR9 trillion in capital expenditure in FY2014 and will augment that with IDR7 trillion and IDR7.5 trillion next year, Carlsson added. The carrier closed out March 2014 with a total number of 59.7 million mobile subscribers.
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