Excelcomindo secures $400m for expansion<\/p>\n
JAKARTA (JP): PT Excelcomindo Pratama, which operates the GSM-
\nXL cellular system, will sign an agreement in Bali today for a
\nUS$400 million syndicated loan from 22 overseas banks.<\/p>\n
A senior Excelcomindo executive said Wednesday the loan would
\nbe arranged by Sakura Finance Asia Ltd, ING Barings, ANZ
\nInvestment Bank and Chase Manhattan Asia Ltd.<\/p>\n
\"The loan agreement is scheduled to be signed by
\nExcelcomindo's president, Y.W. Junardy, and the participating
\nbanks,\" he said.<\/p>\n
The loan would be used to finance Excelcomindo's expansion
\nplan which includes new information technology and human
\nresources development, he said.<\/p>\n
Excelcomindo is the youngest of Indonesia's three global
\nsystem for mobile communications (GSM) operators. The other two
\nare PT Telkomsel and PT Satelindo.<\/p>\n
Excelcomindo, which recently expanded its service to Bali and
\nLombok in its plan to go national, is a joint-venture company
\nowned by Nynex Corp. of the United States (23.1 percent), Mitsui
\nof Japan (4.2 percent), the Asian Infrastructure Fund (12.7
\npercent) and Indonesia's PT Telekomindo Prima Bhakti (60
\npercent).<\/p>\n
Excelcomindo plans to start serving Surakarta and Semarang,
\nCentral Java, and Yogyakarta in June and Medan, North Sumatra, in
\nSeptember.<\/p>\n
The company, which began operating in late 1996, has 65,000
\ncustomers in Greater Jakarta, West Java and East Java.<\/p>\n
The company has signed roaming service agreements with 28
\noverseas operators in 20 nations. GSM-XL subscribers can now use
\ntheir handsets in Australia, Britain, Hong Kong, Thailand,
\nMalaysia, the Philippines, Taiwan, Singapore and some European
\ncountries. (icn)<\/p>",
"url": "https:\/\/jawawa.id\/newsitem\/excelcomindo-secures-400m-for-expansion-1447893297",
"image": ""
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"sponsor": "Okusi Associates",
"sponsor_url": "https:\/\/okusiassociates.com"
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