JAKARTA (Yosefardi) – PT XL Axiata Tbk (EXCL) has bagged loan of US$165 million from DBS Bank, to fund the acquisition over 95% stake in PT Axis Telekom Indonesia from Teleglobal Investment BV.
Earlier on March 12, 2014, the company bagged US$200 million from United Overseas bank Limited and The Bank of Tokyo-Mitsubishi Ufj, LTd.
On March 10, 2014, XL Axiata bagged loan of US$500 million, equivalent Rp5.81 trillion, from its parent company Axiata Group, also to fund the acquisition over Axis.
EXCL had acquired 95% Axis shares for a cash consideration of US$100, but EXCL will procure the repayment of Axis’ debts of around US$865 million.