Bank Putra issues $25m notes

Bank Putra issues $25m notes

HONG KONG (Reuter): Indonesia's PT Bank Putra Surya Perkasa is expected to launch a US$25 million floating rate certificates of deposit issue on Thursday, arranger AB Capital Markets (HK) said.

The issue will be divided into two tranches.

Tranche A has a maturity of three years with a put option at the end of year two while tranche B has two years maturity.

Both tranches will pay a coupon of 140 basis points over the Singapore Interbank Offered Rate. There is a put waiver fee of 125 basis points for tranche A.

Fees are 160 basis points for co-lead managers committing US$5 million and above, 130 basis points for senior managers committing $3 million and above, and 110 basis points for managers committing $1 million and above.

Bank Putra Surya Perkasa is the seventh largest private bank in Indonesia and a member of the Putra Surya Perkasa group, one of the 30 largest conglomerates in the country.