Argo Pantes' $30m notes

Argo Pantes' $30m notes

HONG KONG (Reuter): Argo Pantes Finance BV, a wholly owned subsidiary of PT Argo Pantes, has completed a US$30 million floating rate notes issue due 2000, arranger and lead manager Sanwa International Finance said yesterday.

The three-year notes, guaranteed by PT Argo Pantes, were issued at par to float at 150 basis points over the six-month London Interbank Offered Rate.

With fees, the all-in return for participants is 183.3 basis points.

Besides Sanwa International Finance as lead manager, American Express Bank, PT Bank Negara Indonesia and Daiwa Securities (HK) joined the syndication as co-lead managers.

The notes were issued under the borrower's US$250 million medium term note program. The payment date is July 16.