JAKARTA (Yosefardi) – PT XL Axiata Tbk (EXCL) plans to issue Islamic bonds (sukuk) worth Rp1.5 trillion, lower than initial plan Rp2 trillion. The offering is scheduled for tomorrow (Nov. 25) until November 27, 2015. The bonds will be issued in four series.
Series A amounting Rp494 billion has tenor of 370 days, series B Rp258 billion with tenor of 3 years, series C Rp323 billion with tenor of 5 years, and series D Rp425 billion with tenor of 7 years.
Acting as underwriters are PT CIMB Securities Indonesia, PT Mandiri Sekuritas, and PT Maybank Kim Eng Securities.
EXCL allocates capital expenditure (capex) of Rp7 trillion for 2016, mostly to fund the development of long term evolution (LTE) system network and 3G network.
EXCL suffered loss of Rp506 billion in third quarter of 2015, mainly due to the rupiah depreciation against the US dollar. While revenue rose 4% quarter on quarter (q/q). EXCL’s Ebitda increased 10% q/q to Rp2.2 trillion and Ebitda margin increased to 38%.
EXCL expects to book higher Ebitda this year, compared to Rp8.62 trillion Ebitda last year.