Telekom to issue RM4b bond
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.
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.
State-owned Telekom could issue up to four billion ringgit of the bonds depending on prevailing market conditions, he was quoted as saying by Bernama news agency.
Telekom Malaysia today signed a RM3.75 billion bridging facility with four local banks to finance the purchase of cellular operator Celcom (Malaysia) Bhd.
The deal will create the country's biggest mobile phone firm, surpassing Maxis Communications, with a subscriber base of more than three million and a 40 percent market share. - AFP
Are you sure you want to delete this comment?
This action cannot be undone.