Excelcom announces USD150 million bond buy back

6 Jun 2008

Excelcomindo Pratama (Excelcom) has announced plans to buy back up to USD150 million worth of bonds maturing in 2013, writes Reuters quoting a senior company official. The buyback is part of a wider plan to refinance the firm’s USD600 million of debt this year. Excelcom has already sold USD250 million worth of bonds, due to mature in 2013. The operator’s IR officer Sylvia Hardiman said the cellco intends to use external funds to fund the bond buyback. It plans to borrow USD950 million this year to finance its CAPEX and debt refinancing plans.

Indonesia, XL Axiata