Tower Bersama Infrastructure (stock code: TBIG) which is publicly listed on the Indonesia Stock Exchange has been reported to be looking for US$1 billion in multi-tenor financing. Reuters has reported that the Tower Bersama has approached its existing lenders for financing. Tower Bersama has not confirmed or deny the report.
This comes months after the company had secured a $300 million loan facility in July 2014. The earlier $300 million facility was sought to refinance the company's outstanding debts as well as to support its organic growth.
Tower Bersama has seen its stock surged over 50 percent this year, easily exceeding the Jakarta Composite Index's (JCI) two digit growth this year. A recent deal with Telkom for a swap in stake in Mitratel for Tower Bersama shares has seen Tower Bersama Indonesia's largest independent telecommunications tower provider. Shares of Tower Bersama closed at Rp 9,050 at Friday's close.