JAKARTA (Yosefardi) – PT Indosat Tbk (ISAT) plans to convert 75% of its dollar bond debt (US$650 million) into rupiah for avoiding foreign exchange loss due to the rupiah weakening against the US dollar.
The company targets to have positive cash flow next year. ISAT plans to accerelate payment of bond debt which will mature in 2020.
The company targets to issue dollar bonds worth US$650 million in second quarter of 2015. ISAT is also seeking bank loans to pay debt scheduled to mature this year.
It had obtained new loan of Rp700 billion from Bank Negara Indonesia. Next month, ISAT expects to get loan of Rp1 trillion from 2 foreign banks.