JAKARTA (Yosefardi) – PT XL Axiata Tbk (EXCL), the second largest telco player in Indonesia, has Thursday (Sept. 17) paid its US$100 million debt to United Overseas Bank (UOB) Limited, part of its acceleration program for debt settlement.
Along with the business transformation program, EXCL management proactively strengthens the company’s financial structure through minimizing the risks of foreign currencies movement.
As of June 2015, EXCL’s debt in dollar denomination reached US$1.55 billion, 62% of which have been hedged.
EXCL plans to issue Islamic (sukuk) bonds worth Rp1 trillion to Rp1.5 trillion in the fourth quarter of 2015, to support its working capital.