Indonesia’s XL Axiata is planning to sell some of its telecoms towers in the second half of the year to repay part of its debt.
The mobile operator, a subsidiary of Malaysian giant Axiata, is looking to run a tender process to offload the sites,…
Indonesia’s XL Axiata is planning to sell some of its telecoms towers in the second half of the year to repay part of its debt.
The mobile operator, a subsidiary of Malaysian giant Axiata, is looking to run a tender process to offload the sites, according to a stock exchange notice.
XL Axiata has over 8,000 towers in Indonesia.
Its debt, which stood at Rp28trn (US$2.35bn) at the end of the first quarter, recently increased when the operator bought smaller rival Axis in a US$865m deal.
Late last week, XL also signed a US$100m loan from United Overseas Bank (UOB) to refinance existing loans and for capex purposes, according to a company spokesperson.
Another Indonesian operator, Indosat, has also been considering options for its remaining 7,500 towers, after selling 2,500 sites in 2012. In an interview with TelecomFinance early this year, CEO Alexander Rusli said that there were “plans to further unlock their value”.
