Late last week the company mandated ING and a group of local and international banks for a combined dollar and Rupiah bond issue, which it hopes to complete at the beginning of the fourth quarter. On the international side, ING - Indosat's advisor on its merger with Satelindo - will be joined by Goldman Sachs and Barclays.
Both of the latter two banks are close to Indosat's new owner, Singapore government owned ST Telemedia, which purchased a 42% stake last year. The Indonesian government still holds 15% and the remaining 43% is in free float.
Goldman, for example, has a longstanding corporate finance relationship with ST Telemedia, while Barclays recently extended...
