Bakrie ups FRN to $135m

Bakrie ups FRN to $135m

HONG KONG (Reuter): Bakrie Indonesia B.V's floating rate note issue has been increased to US$135 million from US$125 million, arranger Sumitomo Finance Asia said.

The deal is guaranteed by PT Bakrie Investindo.

The facility has a final maturity of four years. The issue was priced at par to float at 300 basis points over the six-month London Interbank Offered Rate.

With fees, all-in return for top-tier managers is 360 basis points.

Arrangers and lead managers with US$12 million each, are Sumitomo Finance Asia, Bank Internasional Indonesia, Bear Stearn Asia, Credit Lyonnais, NatWest Markets, Overseas Union Bank and Union Bank of Switzerland. Arranger and lead manager Dong Ah Securities committed US$11 million.

Co-arrangers with US$6 million each, are AMMB International Labuan, PT Bank Ekspor Impor Indonesia London, and Bank NISP. Co-lead manager Sime Bank Berhad Singapore committed US$5 million.