Indonesia’s XL Axiata Offers IDR 1.5 Trillion Sukuk Ijarah III Phase I 2022 in Four Series 

Indonesia-based PT XL Axiata Tbk (XL Axiata) has announced the issuance of IDR 1.5 trillion (USD 334 billion) Sustainability Sukuk Ijarah III Phase I 2022 in four series, namely Series A, Series B, Series C, and Series D, with tenors of three, five, seven and ten years for each series, as per a statement to the Indonesia Stock Exchange (IDX) on the 23rd of August 2022,

Why it Matters?

Proceeds from the Sukuk will be used by XL Axiata to fund its capital expenditures for network expansion, capacity development, and service quality enhancement. The Sukuk are set to be issued on the 1st of September 2022, three months after which, Ijarah fees will be paid in instalments every three months, with the first payment expected on the 1st of December 2022.