Malaysia’s Maxis has signed an agreement with RHB Islamic Bank for a MR2.5bn (US$764m) financing facility.
Approximately MR1bn will be used to refinance borrowings of the company and its subsidiaries while the remaining MR1.5bn will go towards capital…
Malaysia’s Maxis has signed an agreement with RHB Islamic Bank for a MR2.5bn (US$764m) financing facility.
Approximately MR1bn will be used to refinance borrowings of the company and its subsidiaries while the remaining MR1.5bn will go towards capital expenditure and general working capital requirements.
The company had net debt of MR6.2bn (US$1.9bn) as of 31 October 2013.
As a result of the financing, Maxis expects its net debt to EBITDA to increase from 1.6x to 1.9x.
Maxis operates Malaysia’s second-largest wireless telco in terms of subscribers.
Recently, fixed-line incumbent Telekom Malaysia agreed to take control of local WiMax operator Packet 1, therefore re-entering the mobile market it had exited in 2008.
