EXCL TO REFINANCE DOLLAR-DENOMINATED DEBTS

Jakarta, July 21 (ANTARA) - Publicly-listed cellular phone operator PT Excelcomindo Pratama Tbk (EXCL) plans to refinance its US dollar-denominated debts to a number of banks using rupiah loans.

The refinancing would be done in stages, the company's acting corporate secretary Sutrisman said here on Tuesday.

He said the company was making an effort to obtain loans in rupiah from local banks soon.

In the future EXCL would try to get rupiah financing rather than dollar financing, he said.

Sutrisman denied that the company had no plan to convert its debts totalling US$800 million into rupiah-denominated debts.