XL Axiata pays debt amounting to US$230m.
XL Axiata (EXCL) has paid its debt amounting to US$230m by end-Sep 15. Of the total US$230m debt repayment, US$180m was refinanced by the loan facility from UOB Bank. The company plans to accelerate the debt repayment of its US dollar-denominated debt because all of the debt is not hedged. The weakening of the rupiah against the US dollar has significantly deteriorated the company’s profitability as the company is heavily reliant on debt.