JAKARTA (Feb 10): Indonesia's Bakrie & Brothers is in talks with creditors to swap about $500 million of debt into equity, its chief financial officer said on Tuesday.

The amount to be converted to shares is expected to be finalised in the next two to three months, CFO Eddy Soeparno told Reuters, saying that the figure would be in the region of $500 million.

"It will improve our debt profile significantly," he said.

Bakrie & Brothers had total debt of 7.2 trillion rupiah ($597 million) at the end of September 2014, according to Thomson Reuters data.

The company, which has businesses including manufacturing, metals and auto components, is part of heavily indebted Bakrie Group.