XL Axiata Seeking Bank Loan to Repay Bonds Due in 2012

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Indonesian mobile network operator XL Axiata is in talks with banks to secure fresh funding to repay existing loans that will mature next year a company executive said on Friday.

Johnson Chan, senior vice president for corporate finance at XL, told the Jakarta Globe that the company was in preliminary discussions with several banks and while they have secured the funding amount, they are now just negotiating over the interest rate.

He did not clarify the amount of the debt that is due next year, but it is thought to include bank loans as well as a USD171 million bond.

On the web: Jakarta Globe

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Tags: xl axiata  Indonesia 

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