Bank Papan mandates loan

Bank Papan mandates loan

HONG KONG (Reuter): Indonesia's PT Bank Papan Sajahtera has
mandated West Merchant Bank and West LB Asia Pacific to arrange a
US$18 million floating rate Euronote issue, West Merchant Bank
said yesterday.

The two-year facility can be put or called at par after the
first year.

It pays a margin of 90 basis points over the three-month
Singapore Interbank Offered Rate.

Participation fees are between 30 and 40 basis points
depending on the commitment level.

A further 30 basis point non-put fee will be payable if
holders of issue do not exercise the put option.