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Islamic Finance Briefing - Categorized | Bonds (Sukuk), Funds more

Indonesia: Indosat to fund expansion with Sukuk sale

Posted on 18 April 2012

Indosat, the country’s second-largest mobile phone operator, plans to sell Rp 2.5 trillion ($272 million) in bonds this year to help fund its business expansion plans and refinance debt.
Indosat, which has about 60 million subscribers, plans to sell fixed-rate conventional bonds and Islamic bonds, the company said. Specifically, the company will sell Islamic bonds of the Ijarah type, which investors lease back to the issuers to comply with Islamic law and to avoid receiving interest payments. Ijarah bonds represent the undivided beneficial rights or ownership of the assets held by the trustee on behalf of the investors………………………………………..Full Article: Source

 
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