Shareholders Approve New Loan XL
Credit & Loan July 6th, 2010
At the general meeting extraordinary shareholders (AGM-LB) PT Excelcomindo Pratama Tbk (EXCL) to approve a new loan that will be used to fund capital expenditures budget or corporate capex.
“This loan will be used to fund capex in the future. Most of the capex will be used to increase network capacity XL,” said President Director Hasnul Suhaimi XL-LB Meeting ended at Prima Tower Building, Kawasan Mega Kuningan, Jakarta, Tuesday ( 29/7/2008).
As for the new loan agreement, the AGM decided to approve the Company plans to obtain new loans in the total number not exceeding USD250 million.
The loan will be made by one or several transactions in the form of syndicated loans, bilateral loans and bonds or through expenditure and / or debt instruments other foreign currency and / or Rupiah.
As is known, in June 2008, XL and its subsidiary Excelcomindo Finance Company BV, announced the results of the request approval of a plan for the sale and transfer towers and assets related to and as part of refinancing outstanding bonds for the cost of funds lower .
XL has made a tender offer to limit to USD150 million guaranteed notes worth USD250 million, 7.125 percent in 2013 due to the bondholder.
The results of the tender offer included the following, received consent from holders of the bonds is 91 percent of the aggregate outstanding principal amount, and bond holders who qualify receive a consent payment of $ 10 for each USD1.000 principal amount.
Aggregate outstanding principal amount of Bonds accepted for payment in a partial tender offer for USD122, 3 million and paid for 101 percent of nominal value. As a result, the outstanding notes to be USD127, 7 million.
