Oct 2, 2011

Axiata pays Rp960 bio loan to Mandiri

Indonesia's third largest cellular operator PT XL Axiata Tbk (EXCL) has paid Rp960 billion debt to PT Bank Mandiri Tbk (BMRI) as a part of loan maturity in 2012.
"The operator has used Rp1.1 trillion loan facility obtained from Bank of Tokyo-Mitsubishi UFJ to pay bank its debt to Bank Mandiri," said Axiata Senior Vice President Johnson Chan as reported by Investor Daily last week. 
The refinancing is intended to put down the loan interest expenses as Axiata has obtained a lowered interest rate from Bank of Tokyo. "Our priority is refinancing debt to Bank Mandiri."
Axiata's total loan maturity in 2012 is about Rp4.72 trillion. The operator secured additional a 5-year-loan of Rp2.5 trillion from Bank Mandiri. The operator also gas Rp1.5 trillion bonds that will mature in 2012. 

Disclosure: No position at the stock mentioned above.

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