XL Axiata (EXCL) mulls to refinancing its debt worth Rp3.5 trillion which will mature in 2018. It has earlier refinanced Rp1.2 trillion debt. The declining trend of interest rates helps the company to seek cheaper cost of funds. As of Sept 2017, EXCL’s short term liability reached Rp13.74 trillion. While its cash and cash equivalent reached Rp1.3 trillion.