JAKARTA (Yosefardi) – CDMA operator PT Bakrie Telecom Tbk (BTEL) is proposing 2 options for restructuring its debt of US$380 million; the extension (rescheduling) and conversion (swap) into equity/shares.
The company had assigned FTI Consulting as financial adviser. At September 30, 2013, BTEL’s debt totaled Rp9.36 trillion.
It suffered foreign exchange (forex) loss of Rp1.2 trillion due to foreign currencies loans.
BTEL, through Bakrie Telecom Pte Ltd issued bonds worth US$380 million in 2010, with tenor of 5 years and coupon of 11.5%. The company failed to pay interest in November 7, 2013, then it is proposing the restructuring.