XL inks second USD214m EKN loan

24 Mar 2009

Indonesia’s third largest mobile operator by subscribers Excelcomindo (XL) has signed a second USD214 million loan with Swedish export credit guarantee agency EKN for the purchase of network equipment from Ericsson of Sweden. The Jakarta Post reports the facility, arranged by ABN AMRO Bank Stockholm Branch and Standard Chartered Bank, is the second tranche of the total USD428 million facility provided by the credit agency and will be used to help finance the cellco’s 2009 CAPEX programme. The first tranche of the loan was concluded in December last year.

Indonesia, Ericsson, XL Axiata