Indonesia's top mobile phone firm, PT Telekomunikasi Selular , may raise up to 3 trillion rupiah ($316 million) for capital spending this year by selling bonds or medium-term notes, the company, quoted by a Reuters report, said.
The Reuters report said Telkomsel, 65% owned by the country's largest telecoms firm, PT Telekomunikasi Indonesia, has pegged this year's capital spending at up to $1.7 billion.
'Half of that amount will be funded internally and we will seek financing for the rest,' Kiskenda Suriahardja, Telkomsel's president director, was also quoted by the Reuters report as saying.
The report also quoted Telkom's president director, Rinaldi Firmansyah, as saying that most of the external financing will be through bank loans and 2 trillion rupiah ($211 million) to 3 trillion rupiah will be raised by issuing bonds or medium-term notes. They declined to give details.
Firmansyah told Reuters on that Telkom group, which includes Telkomsel, plans $2.5 billion in capital spending this year, a quarter more than last year, and would seek financing to fund between 30%-35% of the total.