Tower Bersama Infrastructure, a provider of telecommunications infrastructure in Indonesia, plans to issue $300 million in global bonds to help it refinance its outstanding debt. The company would carry out the transaction through its wholly owned subsidiary, TBG Global. The notes will be listed on the Singapore Exchange. The proceeds from the issue will be used for the partial repayment of senior debt, the repayment of the existing debt of the parent company (PT Saratoga Infrastruktur), and for general corporate purposes. Moody’s Investors Service has given the proposed bond issue a provisional Ba3 rating with a stable outlook.
