Qatar Telecom unit Indosat ISAT.JK has entered into a $406 million sale and leaseback agreement with Tower Bersama Infrastructure (TBIG).  

The deal, which covers 2,500 towers, will be financed using cash and newly-issued shares worth 5 percent of TBIG''s enlarged share capital, Qatar Telecom said the statement said.

Proceeds from the sale will be used to repay outstanding debt and to finance investment and other general corporate purposes at Indosat.