JAKARTA (Yosefardi) – PT XL Axiata Tbk (EXCL) plans to sell part of its telco towers in the second half of this year through auction mechanism. The proceeds will be used to repay its debts.
The company has in June 26, 2014 secured loan facility of US$100 million from United Overseas Bank Limited with tenor of 3 years. The loan is used to fund its capital expenditure this year.
XL’s debt reached Rp46.26 trillion as of March this year while assets totaled Rp60.74 trillion. It has cash and cash equivalent of Rp2.47 trillion.