XL signed a US$ 140 million Syndicated Loan

PT Excelcomindo Pratama Tbk (XL) has signed a USD 140 million 3 Year Syndicated Term Loan Facility with a group of 4 banks on 6th November 2008. The Facility is arranged by DBS Bank Ltd, Economic Development Canada, The Bank of Tokyo-Mitsubishi UJF, and Chinatrust Commercial Bank, Ltd. In conjunction with the Facility, PT DBS Bank Indonesia will also act as the Facility Agent.
The proceeds from the Facility will be used to finance the Company’s capital expenditures, working capital requirements and for general corporate purposes.
XL is a major cellular provider in Indonesia and majority owned by TM International Bhd through Indocel Holding Sdn Bhd (83.8%), the remaining stakes are held by Emirates Telecommunications Corporation (Etisalat) International Indonesia Ltd., a wholly owned subsidiary of Etisalat (16%), and the public (0.2%).
XL owns an extensive fiber optic backbone network. Started its commercial operations in October 1996, XL’s business consists of Consumer Solutions as triple band (900/1800/1900) cellular network and service provider and Business Solutions as corporate service provider. On 21 September 2006, XL launched XL 3G, the first