Bank Mandiri gets Rp 75t

Bank Mandiri gets Rp 75t

JAKARTA (JP): The government issued on Tuesday Rp 75 trillion
(US$10.7 billion) worth of bonds to complete the recapitalization
of state Bank Mandiri.

The Ministry of Finance said in a statement this amount
represented the second tranche of recapitalization funding
injected into the country's largest bank.

With the issuance of the second tranche of bonds, the
government has completed the recapitalization of Bank Mandiri at
a total cost of Rp 178 trillion.

The government issued the first tranche of bonds, totaling Rp
103 trillion, to Bank Mandiri on Oct. 13.

"With this recapitalization, Bank Mandiri is expected to be
able to revive the real sector and implement its working
program," the statement said.

After issuing the second tranche of bonds, the government
signed an interim investment management and performance agreement
with Bank Mandiri's management. (rid)