JAKARTA (Yosefardi) – Struggling CDMA operator PT Bakrie Telecom Tbk (BTEL) has on Monday (June 22) gained an approval of shareholders to issue new shares, part of settling its debts payment.
BTEL has also proposed to the Financial Services Authority (OJK) to issue the mandatory convertible (MCB) bonds, an option of settling debt totaling Rp11.3 trillion under the agreement with its creditors.
BTEL plans to settle 70% debt with MCB, which will be converted into share at price of Rp200, and to pay the rest of debt (30%) by gradual.