JAKARTA (Yosefardi) – PT Indosat Tbk (ISAT) targets to book net profit next year (positive bottom line) by cutting foreign exchange loss through reducing its dollar debt exposure.
Indosat now has debts of US$1 billion. The dollar debt will be cut to 25% next month while rupiah debt is targeted for 75%.
Indosat plans to issue bonds worth Rp2.2 trillion, part of its Rp9 trillion bond issue program for this year, and to issue Islamic bonds (sukuk) worth Rp300 billion, part of its Rp1 trillion sukuk issue program.
The bonds proceeds (82%) will be used to refinance debts while the rest is allocated to pay network license fee (BHP) to the government.
Indosat plans to pay Rp1 trillion debt to Bank Central Asia, Rp550 billion debt to Bank Negara Indonesia, and Rp250 billion debt to Bank of Tokyo Mitsubishi UFJ.
Indosat plans to accelerate payment of US$650 million guaranteed notes, equivalent Rp7.78 trillion.
Indosat also mulls to sell its towers in 2015.