Excelcom announces USD164 million April bonds offer to fund network expansion

2 Mar 2007

Indonesia’s third largest mobile operator by subscribers, Excelcomindo Pratama (Excelcom) plans to offer USD164 million in bonds next month to fund its network expansion programme. The Jakarta Post writes that the operator will offer fixed rate bonds to the public between 18-20 April and will list on the Surabaya Stock Exchange on 27 April. The issue is being handled by PT CIMB-GK Securities, PT Danareksa, PT DBS Vickers Securities Indonesia and PT Standard Chartered Securities Indonesia. Excelcom has earmarked investment of USD700 million to expand its networks as it looks to boost its subscriber base from 9.5 million now, to 14 million by the end of the year.

Indonesia, XL Axiata