Excelcom to raise USD950 million from bonds, loans

26 Nov 2007

Indonesia’s PT Excelcomindo (Excelcom) plans to raise USD950 million through bonds and borrowing to repay existing debt and fund the continuing expansion of its wireless networks and services. According to Bloomberg, the company sees the move as vital in an intensely competitive mobile market. The plan was approved by shareholders yesterday. Around USD350 million will be set aside for network expansion and the remainder will be used to reduce debt.

Indonesia, XL Axiata