Indonesia's Excelcomindo launches partial tender for 7 1/8% notes

By Susanna Moon

Chicago, June 2 - Excelcomindo Finance Co. BV and PT Excelcomindo Pratama Tbk. said they began a cash tender offer for up to $150 million of the $250 million 7 1/8% guaranteed notes due 2013.

The companies also are soliciting consents from holders of the notes to amend the indenture. The proposed amendments and waivers would allow Excelcomindo to sell and transfer its existing wireless communication towers and certain related assets.

The tender offer will expire at 5 p.m. ET on June 27. The consent deadline is 5 p.m. ET on June 13.

The company said it will pay $1,010 per $1,000 principal amount of the notes. Holders who tender their notes by the consent deadline also will receive a consent fee of $10 per $1,000 principal amount.

The payment date is expected to be July 2.

Goldman Sachs (Singapore) Pte. (852 2978-0672; 44 20 7774-9522; 800 828-3182 or collect at 212 357-0775) is the solicitation agent and dealer manager.

Excelcomindo Finance issued the $250 million of 7 1/8% seven-year global notes on Jan. 18, 2006.

Excelcomindo Pratama is an Indonesian cellular telephone operator.

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