Indonesia's Excelcomindo gets consents needed to amend 7 1/8% notes

By Angela McDaniels

Tacoma, Wash., June 16 - PT Excelcomindo Pratama Tbk. and Excelcomindo Finance Co. BV have received consents from holders of a majority of the $250 million 7 1/8% guaranteed notes due 2013 issued by Excelcomindo Finance, according to a company news release.

The companies said they will promptly enter into a supplemental indenture. The amendments and waivers contained in the supplemental indenture will allow Excelcomindo to sell and transfer its existing wireless communication towers used in Indonesia and some related assets.

The companies began a tender offer for up to $150 million of the notes and a consent solicitation on June 2. The consent deadline was 5 p.m. ET on June 13, and the tender offer will expire at 5 p.m. ET on June 27.

The payment will be $1,010 per $1,000 principal amount of notes. Holders who tendered their notes by the consent deadline will also receive a consent fee of $10 per $1,000 principal amount.

All holders who tender will receive accrued interest up to but excluding the payment date, which 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 Pratama is a cellular telephone operator based in Jakarta, Indonesia.

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