Mandiri may issue bonds up to between $400m<\/p>\n
The Jakarta Post, Jakarta<\/p>\n
State-owned Bank Mandiri, the nation's largest lender in terms of
\nassets, plans to issue mid-term bonds of between US$200 million
\nand $400 million in the first quarter of this year.<\/p>\n
Bank Mandiri president director ECW Neloe told reporters on
\nWednesday that the bank intended to launch the dollar-denominated
\nbonds in February.<\/p>\n
\"We will do the road shows in February,\" said Neloe. The bond
\nissue was expected to be conducted in the same month, he added.<\/p>\n
The proceeds from the bonds will be used mainly to expand its
\nlending base.<\/p>\n
Bank Mandiri invited 14 international investment banks --
\nincluding Credit Suisse First Boston, UBS AG, HSBC, ABN Amro,
\nBarclays Capital, Merril Lynch, Citigroup and Deutsche Securities
\n-- to participate, said Neloe.<\/p>\n
Four of them would be shortlisted and one would be selected as
\nthe underwriter.<\/p>\n
Neloe had previously said that the bank's lending expansion
\nfor this year was estimated to increase by 20 percent to Rp 18
\ntrillion ($1.94 billion) as compared to the previous year.<\/p>\n
The bank's profit rose 19 percent in the first nine months of
\nlast year to Rp 4.48 trillion from Rp 3.77 trillion it booked in
\nthe same period in 2003. The rise was due to lower interest rates
\napplied by banks that encouraged companies and consumers to
\nborrow more.<\/p>",
"url": "https:\/\/jawawa.id\/newsitem\/mandiri-may-issue-bonds-up-to-between-400m-1447893297",
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"sponsor_url": "https:\/\/okusiassociates.com"
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