Indonesia`s Mobile-8 sells $100 mln bonds to finance 2008 capex, debt

Jakarta (Antara News) - Indonesia's fourth largest mobile telephone operator PT Mobile-8 Telecom said Tuesday its unit Mobile-8 Finance BV has sold bonds worth 100 million US dollars.

Mobile-8 president Hidadjat Tjandradadja told Thomson Financial that Mobile-8 will guarantee the bonds and will use the proceeds to finance its 2008 capex and refinance old debt.

The bonds will mature on March 1, 2013 and will carry a fixed interest rate of 11.25 percent per annum.

Tjandradadja said the company is aiming to maintain 2008 capex at this year's level of 125 million US dollars.

He also said the bonds offer had been reduced from the initial plan of 150 million US dollars due to the recent global financial market weakness.

Mobile-8 is 60.75 percent-owned by diversified conglomerate PT Global Mediacom. (*)
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