JAKARTA – PT XL Axiata Tbk (EXCL), a telecommunication provider, has obtained a working capital facility in the form of a uncommitted current account of IDR 1 trillion from PT Bank Negara Indonesia (Persero) Tbk (BBNI). It adds into the company’s record of securing uncommitted loans within the past week.
In the information disclosure quoted Friday (17/6), Ranty Astari Rachman, Corporate Secretary of XL Axiata, confirmed that said working capital credit facility will be available for 12 months from the signing date yesterday (15/6). “The loan facility will be used to cover general needs, including capital expenditure and business expansion,” she added.
Earlier this week (13/6), EXCL also reportedly acquired an uncommitted revolving loan facility from MUFG Bank Ltd worth IDR 1.9 trillion. Cumulatively, the company managed to gain a total of uncommitted loan facility of IDR 2.9 trillion from said banks, which will be utilised in advance its operational activities and business development.
As of March 2022, the company recorded cash and cash equivalents of IDR 1.41 trillion, lower than IDR 2.66 trillion reported in December 2021. (LK/ZH)