Jakarta (ANTARA News) - Cellular phone operator PT Telkomsel is mulling to issue bonds to help finance its 2011 capital expenditure expected to reach Rp13 trillion or about the same as this year.

"The bonds can hopefully be issued in October 2011," PT Telkomsel President Director Sarwoto Atmosutarno said here on Tuesday.

PT Telkomsel which is the subsidiary of state telecommunications operator PT Telkom was in the process of making preparations for the issuance of the bonds, he said.

"We hope there will be no obstacle now that the bonds issued by Telkomsel so far have been on great demand in the market," he said.

But he stopped short of revealing the amount of bonds to be issued on the ground it was still under valuation process.

Proceeds from the issuance of the bonds would be used to finance capital expenditure besides bank loans including vendor financing, he said.

"We can combine all the available options. However, we must try to find cheap financing source or low-cost but profitable financing sources," he said.

He said only 54 percent of funds allocated for capital expenditure this year had been absorbed.

He said the company would also launch a strategic-term program next year as part of its business expansion.

As per August 2010, the number of Telkomsel subscribers reached 92 million. The figure is projected to reach 100 million at the end of this year.(*)

Editor: Heru
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