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.