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)