JAKARTA, May 23, 2013 - PT Sarana Menara Nusantara Tbk ("TOWR"), the largest independent owner and operator of telecommunication towers in Indonesia, today released its financial statements for the three-month period ended March 31, 2013 ("1Q 2013").
TOWR, through its operating subsidiary PT Profesional Telekomunikasi Indonesia ("Protelindo"), generated revenue amounting to Rp 720.2 billion and EBITDA amounting to Rp 600.7 billion for 1Q 2013. This represents a year-over-year increase of 49.6% in revenue and 48.7% in EBITDA when compared to 1Q 2012.
TOWR added 532 towers and 1,346 tenants during 1Q 2013, bringing its total tower count to 8,992 and its total tenant count to 16,195. These additions represent year-over-year increase of 33% in towers and 40.7% in tenants when compared to 1Q 2012.
Despite its continued trend of robust growth in the number of its towers and tenants, TOWR continues to be one of the least-levered independent tower companies in the world. As of March 31, 2013 TOWR's Net Debt was Rp 7,317.6 billion, which resulted in a Net Debt to EBITDA ratio of 3.0x (annualized EBITDA for 1Q 2013).
On May 20, 2013, Protelindo and its subsidiary, Protelindo Finance B.V., signed a USD 475 million and EUR 40 million Syndicated Term Loan and Revolving Credit Facility. The transaction was initially led by DBS Bank Ltd., ING Bank N.V., and Standard Chartered Bank. The bank market reacted positively during the syndication process, as the offer was 2 times oversubscribed with final participation from more than 33 banks, both international and Indonesian. As a result, TOWR has effectively extended its debt maturity to May 2018 and migrated its entire outstanding debt to an unsecured structure. The proceeds from the loan are for refinancing and general corporate purposes.
About PT Sarana Menara Nusantara Tbk:
PT Sarana Menara Nusantara Tbk. ("SMN") was established in June 2008 with a primary focus to invest in operating companies that specialize in owning and operating telecommunication towers for wireless operators. SMN's activities are conducted through its subsidiary, PT Profesional Telekomunikasi Indonesia ("Protelindo").
Protelindo was established in 2003 and is currently the largest independent owner and operator of telecommunication towers for wireless operators in Indonesia. Protelindo's primary business is leasing space at its multi-tenant towers to all major wireless operators in Indonesia pursuant to long term lease agreements.
On March 8, 2010, SMN completed an initial public offering of its shares and is listed on the Indonesian Stock Exchange (IDX) under the ticker symbol "TOWR". SMN's largest shareholder is the Hartono Family.
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