Indonesian mobile operator XL Axiata has obtained a US$300m debt package from DBS Bank.
In a notice to the country’s stock exchange, the company said the credit facility will finance its debt and capital expenditure, as well as other general corporate…
Indonesian mobile operator XL Axiata has obtained a US$300m debt package from DBS Bank.
In a notice to the country’s stock exchange, the company said the credit facility will finance its debt and capital expenditure, as well as other general corporate purposes.
The financing comes a month after XL Axiata, which is owned by Malaysia’s Axiata, received governmental approval to merge its assets with that of smaller rival Axis in a US$865m deal. The transaction marked one of the first consolidation moves in Indonesia’s saturated market.
In September 2013, XL Axiata had already secured two loans: US$88.4m from Bank Sumitomo Mitsui Indonesia for general corporate purposes and US$100m from Bank of Tokyo Mitsubishi for capital expenditure.
