Bakrie closes $175m FRN

Sat, 19 Oct 1996 | Source: REUTERS

HONG KONG (Reuter): Bakrie International Finance BV's, guaranteed by PT Bakrie & Brothers, US$175 million floating rate notes issue due 1999 has been closed, said arranger Peregrine Fixed Income.

The three-year notes were priced at par to float at 220 basis points over the six-month London Interbank Offered Rate. There are put and call options in year two.

Fees are 50 basis points for underwriters.

Lead managers are Peregrine Fixed Income, Bank Internasional Indonesia's Cayman Islands branch, PT Bank Negara Indonesia, KDB Asia, KEB (Asia) Finance, Natwest Markets, Nikko Securities Co (Asia), Salomon Brothers Hong Kong and SBC Warburg.

Co-lead managers are IBJ Asia, Asahi Finance (Hong Kong), BEII (DTC) Ltd (a wholly owned subsidiary of Bank Ekspor Impor Indonesia), Sumitomo Finance (Asia) and UMBC International Bank (L) Ltd.

Senior managers are Banco Exterior de Espana's Hong Kong branch, HanGil Merchant Banking Corp, Korean French Banking Corp, Bank of Commerce (L) Ltd, Commerzbank (South East Asia), Donghwa Bank, Hanil Leasing Singapore, KDLC Leasing Singapore and Kumho Merchant Bank.

Signing is set for Oct. 28.

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