JAKARTA. As an attempt to improve the quality of its fundamentals, this year, PT XL Axiata Tbk (EXCL) will focus on refinancing. One of the available options is to issue bonds.

Budi Pramantika, Chief Finance Officer of XL Axiata, claimed that until December 31, 2022, the total maturing bonds reached IDR 12 trillion. However, said amount has decreased by IDR 2 trillion after the company paid off those bonds, leaving the current outstanding amount of bonds of IDR 10 trillion.

Meanwhile, EXCL still needs to handle maturing bonds worth IDR 2.4 trillion in the third quarter of 2023. “However, we still have in possession IDR 7 trillion from the bonds that will be used to pay outstanding bonds in 2023,” Pramantika added in the Media Update release today (8/3). EXCL has managed to secure facilities by issuing Shelf-Registration Bonds II of XL Axiata with a target of IDR 5 trillion, as well as Shelf-Registration Sukuk Ijarah III of IDR 5 trillion.

In September 2022, XL Axiata had issued Shelf-Registration Bonds II Phase I Year 2022 and Shelf-Registration Sukuk Ijarah III Phase I Year 2022 with a principal of IDR 1.5 trillion each. However, the schedule for the next round of bonds and sukuk issuance is still in discussion, as the company seeks the right moment. “If the condition is favorable, we will issue bonds in the third quarter, albeit smaller in value, of less than IDR 2.4 trillion,” Pramantika added. (AM/ZH)