EXCL TO BUY BACK BONDS WORTH $59.4 MILLION

Jakarta, Dec 21 (ANTARA) - Publicly-listed cellular phone operator PT XL Axiata Tbk (EXCL) plans to buy back all its outstanding bonds of US$59,432,000 listed at the Singapore Exchange Securities Trading Ltd (SGX).

The buyback of the bonds listed at the stock exchange on January 8, 2006 was aimed at reducing the amount of the company's debts, EXCL Director Willem Lucas Timmermans said on Monday.

The company bought back US$122,298,000 of the bonds totaling US$250 million on June 30, 2008, US$3,635,000 on April 20, 2009, and US$64,635,000 on December 1, 2009.

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