Telekom Malaysia Bhd may issue up to RM4 billion (US$1.1 billion) in bonds in the third quarter of 2003 to refinance the bridging facility taken out for the acquisition of a rival cellular operator, a senior official said today.

Gazali Harun, general manager (corporate finance), said Telekom was finalising its submissions to the authorities and had completed the due diligence with the respective advisors.