Mandiri Sekuritas BTEL may repayment US$175mn of debt (BTEL, Rp138, Neutral, TP: Rp128)

The company plans to issue US$250mn of global bonds, which around US$170mn will be used for debt repayment and the rest, US$75mn to finance its 2010 capex. Budgeted capex for this year reach US$200mn which will be used to network expansion. The bond has B rating from Fitch Ratings and will mature on 2015.Starting today until next month, the company conducting a road show to foreign investors in Singapore, Hong Kong, USA, and Europe. (Kontan)