Indonesia’s telecommunications giant Tower Bersama has engaged Mallesons Stephen Jaques and Assegaf Hamzah & Partners in a US$2bn loan debt programme to PT Tower Bersama Infrastructure and its operating companies. Norton Rose and Hadiputranto, Hadinoto & Partners advised the programme coordinators of the transaction.

“This is one of the largest financings of its kind in Indonesia to date and, with the incumbent operators in Indonesia looking to step up their tower sales programme to raise capital, Tower Bersama's timing is looking very astute.” Norton Rose banking partner Yu-En Ong said. “I have no doubt that we will see further rapid growth in the tower sector in Indonesia over the next few years."

Tower Bersama is one of the largest independent telecommunication tower companies in Indonesia providing telecommunications infrastructure and site services to wireless operators across the country. The debt programme will be made available through separate series.

United Overseas Bank and Overseas-Chinese Banking Corporation were the programme coordinators of the transaction which closed at the end of October 2010.ALB

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