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Indonesia's Bakrie Telecom creditors set to approve debt restructuring-lawyer
December 8, 2014 / 10:28 AM / in 3 years

Indonesia's Bakrie Telecom creditors set to approve debt restructuring-lawyer

JAKARTA, Dec 8 (Reuters) - Almost all the creditors of PT Bakrie Telecom Tbk are set to approve the Indonesian telecommunication firm’s debt restructuring proposal, a lawyer for one of the creditors said on Monday.

Last month, Bakrie Telecom proposed a debt restructuring plan that offers creditors cash installments and debt-to-equity swaps, after a Jakarta court ordered the company to negotiate a debt restructuring with its creditors by Dec. 9.

“94.5 percent of creditors have approved,” Sandra Nangoy, a lawyer for PT Netwave Multi Media, told Reuters in a text message. Bakrie Telecom owes Netwave 4.7 billion rupiah($387,000). (Reporting by Eveline Danubrata; Editing by Miral Fahmy)

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