XL paid IDR400 billion debt to Mandiri

PT Excelcomindo Pratama Tbk (XL) planned to pay IDR400 billion debts to PT Bank Mandiri Tbk as the due date in December.
Along with the payment here, XL is seeking some US$200 million with three years tenure in rupiah denomination.
XL signed credit agreement worth IDR4 trillion with Bank Mandiri on December 19, 2008, and financing facility is available until December 18, 2008. The interest rate refers to the Jakarta interbank offered rate (Jibor) plus 1.5 percent margin.
The total loan redeemed by the company up to September this year stood at IDr4 trillion.
Senior Vice President Corporate Finance of XL Johnson Chan said the debt here is financed by the internal cash.
XL last week got US$214 million loan from the Exportkreditnamnden (EKN) Buyer Credit Facility.
Last month XL signed syndicated loan deal worth US$140 million with 3 years tenure from four banks, namely DBS bank Ltd, Economic Development Canada, The Bank of Tokyo-Mitsubishi UJF, and Chinatrust Commercial Bank, Ltd.
The lending rate here refers to the Singapore interbank offered rate (Sibor) plus 2-3 percent and PT Bank DBS Indonesia acts as the loan facility agent.
As to Johnson, the remaining loan commitment worth US$186 million will be disbursed March next year.
"We just have to seek rupiah denomination loans worth US$200 million with three years tenure. We hope to get them from local bank."