BDNI issues FRNs worth $100 million<\/p>\n
JAKARTA (JP): Bank Dagang Nasional Indonesia (BDNI), a
\npublicly-listed private commercial bank, yesterday issued
\nfloating rate notes through its Cayman Islands branch to raise a
\nloan of US$100 million.<\/p>\n
The bank said in a statement yesterday that the notes, whose
\nissuance was arranged by Merrill Lynch and Hong Kong Shanghai
\nBank Corporation Market, are listed on the Stock Exchange of Hong
\nKong Securities Limited and the International Stock Exchange of
\nthe United Kingdom and the Republic of Ireland.<\/p>\n
The agreement on the notes issuance was signed in Hong Kong
\nyesterday.<\/p>\n
The statement said that the notes, issued in the bearer form
\nwith a maturity in October 2000, offer quarterly interest
\npayments commencing in January 1996.<\/p>\n
The interest rate is determined at 0.85 percent per annum over
\nthe three-month London Inter-Bank Offered Rate.<\/p>\n
Sjamsul Nursalim, chairman of the Gajah Tunggal Group with
\nwhich the bank is affiliated, said that the bank will use the
\nloans to finance its overseas operations.<\/p>\n
Yesterday's notes issuance was lead-managed jointly by Dai-
\nIchi Kangyo Bank Asia Limited, Chemical Bank Asia, Standard
\nChartered Bank, Bank of America, Commercial Bank of Korea,
\nCommerz Bank AG, Daiwa Securities, Gulf International Bank BSC,
\nMitsubishi Merchant Banking and Banque Paribas Capital Market.<\/p>\n
The managers of the deal were Goldman Sachs, Industrial Bank
\nof Korea, Korean Exchange Bank, Kwang Won Bank, Lehman Brothers,
\nLTCB Asia Limited, Northern Landes Bank, Solomon Brothers, Sanwa
\nBank, Swiss Bank Corporation, Union Bank of Switzerland,
\nWestdeutsche Landes Bank Girozentrale.<\/p>\n
BDNI has developed a network of 168 domestic branches and
\nseven overseas branches and subsidiaries. The bank also has
\nestablished a correspondent network with 550 international banks
\nand maintains active relationships with more than 45 banks
\nworldwide.<\/p>\n
As of last December, BDNI recorded total assets of Rp 8.89
\ntrillion ($3.95 billion), up from Rp 6.14 trillion as of December
\n1993, while its after-tax profit increased to Rp 134.85 billion
\nlast year from Rp 61.54 billion in 1993.<\/p>\n
BDNI is 51.80 percent owned by PT Daya Patria Corporation,
\n5.10 percent by PT Nusantara Duta Development Corporation, 3.20
\npercent by PT Nusantour Duta Djaya Invest Corporation, 1.90
\npercent by PT Gajah Tunggal Mulia and 38 percent by the investing
\npublic.(31)<\/p>",
"url": "https:\/\/jawawa.id\/newsitem\/bdni-issues-frns-worth-100-million-1447893297",
"image": ""
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"sponsor": "Okusi Associates",
"sponsor_url": "https:\/\/okusiassociates.com"
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