JAKARTA (Yosefardi) – PT SmartFren Telecom Tbk (FREN), CDMA-based operator, is managed to soon convert its bonds debt of Rp7.4 trillion to 74 billion shares (equity).
The conversion is scheduled for September 21, 2015. FREN has previously converted its Rp1.1 trillion bonds to shares, part of its convertible bond of Rp4.7 trillion (first phase). In June 2015, FREN has also issued convertible bonds, part of its Rp6 trillion convertible bonds (phase 2).
Meanwhile, FREN’s subsidiary PT Smart Telecom has in June 30, 2015 signed loan facility agreement of US$300 million with China Development Bank (CDB).
FREN booked net loss of Rp815 billion in the first half of 2015, increased by 24.7% from the corresponding period of 2014. Revenues grew by 6.1% to Rp1.52 trillion from previous Rp1.43 trilion. Its assets reached Rp18.83 trillion while liability amounted Rp11.84 trillion.