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| Axis Financing |
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In June, after nearly two years of work, Indonesia-based telecom company PT Natrindo Telepon Seluler (Axis, now known as PT Axis Telekom Indonesia) completed a financing that is notable for the amount raised, its innovative nature and its complexity.
Axis, the Indonesian subsidiary of Saudi Telecom, raised $1.2 billion through a triple-tranche transaction. The financing involved China Development Bank, Sweden’s export credit agency and the World Bank.
The deal originated in 2009 when HSBC began discussions with Saudi Telecom about how to finance Axis’s growth.
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