Aug 12, 2011

XL Axiata to refinance Rp2.5 trio debts

Indonesia's third largest cellular operator PT XL Axiata Tbk (EXCL) aims to put more debts payment of Rp2.5 trillion from the initial plan of Rp2 trillion this year.
To refinance the operator's existing debts, XL Axiata's Finance Director Willem Lucas Timmermans as quoted by Kontan daily, the operator will use bank loan facility. "We have talked with several banks to secure loan facility for the refinancing," he said. 
By end of this year, XL Axiata is scouting 45 million subscribers, while average revenue per user now is Rp32,000-Rp33,000 from Rp35,000 last year.

Disclosure: No position at the stock mentioned above.

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