Secures new funding of Rp2.5tr
EXCL has signed Rp2.5tr loan facility of 5 years tenure with BMRI at JIBOR + 1.4% interest rate. This new lending completes previous loan facilities of Rp1.5tr of 5 years tenure from BBCA and Rp500bn of 3 years tenure from Bank of Tokyo-Mitsubishi UFJ. EXCL will utilize loans to pay outstanding debt US$265.2m from Sweden-based Export Kredit Namden (EKN). During 1H10, EXCL has serviced debts amounting to US$219bn and Rp900bn from internal cash. The management believes that new loan facilities will not increase EXCL’s interest expense as other outstanding debts have been paid.
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