MNCN is planning to issue US$300-400 mn Euro bonds in June 2010 to refinance its US$143 debts due in September 2011. The remaining proceeds from the Euro bond issue will be used to invest in local TV stations.
Morgan Stanley and Standard Chartered are underwriting the five-to-seven-year Euro bond, which will be listed on the Singapore Stock Exchange.
Sales comment: Conference call arranged with management for 10.00 am Jakarta time tomorrow morning.
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