Indonesia's Sky Vision taps bookrunners for dollar notes due 2015

By Christine Van Dusen

Atlanta, Oct. 28 - Indonesia's Aerospace Satellite Corp. Holding BV, a special purpose vehicle of PT MNC Sky Vision, has mandated HSBC and Standard Chartered as joint bookrunners for a dollar-denominated offering of senior secured guaranteed notes due 2015 (/B/), a market source said.

The Rule 144A and Regulation S notes - guaranteed by PT MNC Sky Vision, PT Mediacitra Indostar and Aerospace Satellite Corp. BV - will be non-callable for three years.

The company plans to use $95 million of the proceeds to finance the acquisition of satellite transponders and $71 million to upstream cash to main shareholder PT Global Mediacom Tbk. The rest will be used to fund issue-related expenses, according to a Standard & Poor's report.

A roadshow will begin Friday and travel through Hong Kong, Singapore, London and the United States.

MNC Sky Vision is a Jakarta-based satellite pay television company.

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