JAKARTA, Nov 7 (Reuters) - Indonesia's third-largest mobile phone operator, PT Excelcomindo Pratama Tbk (EXCL.JK: Quote, Profile, Research, Stock Buzz), said on Friday it has received a $140 million syndicated loan from four overseas banks to help meet its capital expenditure needs.
Excel, 83.79 percent controlled by Telecom Malaysia (TLMM.KL: Quote, Profile, Research, Stock Buzz), received the loan from DBS Bank (DBSM.SI: Quote, Profile, Research, Stock Buzz) Ltd, Economic Development Canada, The Bank of Tokyo-Mitsubishi UJF and Chinatrust Commercial Bank Ltd.
"We are very pleased to have the support of the four mandated lead arrangers in such volatile times, and believe that they will be great partners as we continue to expand our operations," the firm's president director, Hasnul Suhaimi, said in a statement.Excel has revised up its capital expenditure for 2008 to $1.25 billion from an earlier figure of $1 billion, which would be used largely for network upgrades as its subscribers soar.
The company said its subscribers jumped 124 percent to 22.9 million in the first half of 2008 from a year ago. (Reporting by Andreas Ismar; Editing by Sugita Katyal)
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