Indonesian cellular network operator PT Indosat expects to secure loans totalling around 1 trillion rupiah ($84.82 million) from two foreign banks in the third quarter of this year, said Investor Relations Officer Andromeda Tristanto.
The firm will use the loans to finance 2014 capital expenditure of between 8 trillion and 9 trillion rupiah. Eighty percent of the total capex will be spent on modernising its network and infrastructure, Tristanto added. (Kontan)
Note: Reuters has not verified this story and does not vouch for its accuracy. ($1 = 11,790 Indonesian rupiah) (Compiled by Jakarta Newsroom; Editing by Subhranshu Sahu)