Indonesia’s XL Axiata Announces Plans to Issue IDR 1.5 Trillion Worth of Shelf-registration Sukuk Ijarah III Phase I Year 2022

Indonesia-based telecommunication service provider, PT XL Axiata Tbk (XL Axiata), has announced plans for a public offering of IDR 1.5 tillion (USD 100.2 million) Shelf-registration Sukuk Ijarah III Phase I Year 2022, under the IDR 5 trillion (USD 334 million) Sukuk Ijarah Shelf Offering Programme (Penawaran Umum Berkelanjutan or PUB) on the 27th of July 2022.

Why it Matters?

Proceeds from the offering will be used to fund XL Axiata’s capital expenses, expanding its product network and enhancing the users' access to its telecommunication service. It will further assist in the implementation of its transformation agenda for the three growth engines (Mobile, Enterprise, and Home & Convergence) and supports the government's initiative to expand...