Bidders hunt for $500m for XL Axiata tower buy

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By Shruti Chaturvedi
28 Aug 2014

Indonesian telecoms tower operator PT Solusi Tunas Pratama (STP), private equity fund Providence Equity Partners and Tower Bersama Group are among bidders which have approached banks for a loan to back the acquisition of some of XL Axiata’s tower assets, according to bankers.

Bankers said the financing is likely to be between $400m and $500m but did not know whether the loans would be secured on the assets being acquired. The final size of the loan would depend on the cashflow of the bidder that finally wins, said a banker.

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