Feb 3, 2011

XL Axiata pays Rp400 billion debt

Indonesia's third largest cellular operator PT XL Axiata Tbk (EXCL), controlled by Malaysian Axiata Group, reported debt payment of Rp400 billion to the state-owned lender PT Bank Mandiri Tbk (BMRI) on January 27 2011.
At end of December last year, XL Axiata recorded Rp7.70 trillion long term debt with Rp976.87 billion will due within a year. XL Axiata also recorded Rp1.5 trillion bond maturing on April 26 2012. Hence, in total, the operator recorded Rp9.2 trillion long term debt.
XL Axiata owed Rp4.30 trillion to Bank Mandiri, Rp2.17 trillion to Exportkreditnamnden (EKN), Rp1 trillion to PT Bank Sumitomo Mitsui Indonesia, Rp1 trillion to The Bank of Tokyo-Mitsubishi UFJ, Ltd, and Rp250 billion to PT ANZ Panin Bank.
At end of last year, XL Axiata's total equity was Rp11.72 trillion. So, debt to equity ratio was 0.78x. However, cash and cash equivalent at end of 2010 shrank to Rp366.16 billion from Rp747.97 billion as the operator paid more long term debt to Rp6.62 trillion from Rp5.22 trillion. 

Disclosure: No position at the stock mentioned above.

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