Indonesia Telco Pivots to Private Debt After Public Bond Rethink

Indonesian telecommunications firm PT Solusi Sinergi Digital Tbk is turning to private credit after shelving plans to issue public bonds amid lukewarm investor appetite, people familiar with the matter said.

The company, also known as Surge, is looking to raise $300 million via senior secured notes, which are expected to be privately placed with a small number of investors, the people said, who asked not to be identified discussing private matters. The proceeds will partially fund the roll-out of its fixed wireless access facility, the people said, adding that the firm will use its existing cash reserves to fund the shortfall.