Danamon selects bonds issue underwriters<\/p>\n
The Jakarta Post, Jakarta<\/p>\n
Bank Danamon, the country's fifth-largest lender in terms of
\nassets, has appointed Danareksa Sekuritas as one of the
\nunderwriters for its Rp 3 trillion (US$328 million) bond issue
\nthis year, a top executive of the firm says.<\/p>\n
Director Daniel Iskandar said on Wednesday that the rupiah-
\ndenominated bonds, which are scheduled to be issued in June, were
\nalso underwritten by HSBC Securities Indonesia and PT Trimegah
\nSecurindo Lestari.<\/p>\n
A senior officer at the bank, Kun Kim Lan said the proceeds
\nwould be used to expand lending, which was expected to grow by 20
\npercent this year.<\/p>\n
Last March, Danamon issued $300 million of subordinated bonds
\nto raise funds to finance its acquisition of automotive financing
\ncompany PT Adira Dinamika Multi Finance.<\/p>\n
Adira's acquisition was aimed at smoothing the way for its
\ncredit expansion.<\/p>\n
Consumer and commercial loans -- including those to small and
\nmedium enterprises -- have boosted lending. Based on its
\nfinancial reports, as of last September, outstanding loans of the
\nbank had grown by 27.7 percent to Rp 26.75 trillion from Rp 20.95
\ntrillion in the same nine-month period last year.<\/p>\n
In the first nine months of last year, Danamon recorded a net
\nprofit of Rp 1.73 trillion. The bank is 62 percent controlled by
\nSingapore's Temasek Holdings Pte and Deutsche Bank AG.<\/p>",
"url": "https:\/\/jawawa.id\/newsitem\/danamon-selects-bonds-issue-underwriters-1447893297",
"image": ""
},
"sponsor": "Okusi Associates",
"sponsor_url": "https:\/\/okusiassociates.com"
}