Bapindo gets $125m loan

Bapindo gets $125m loan

JAKARTA (JP): The state-owned Bank Pembangunan Indonesia
(Bapindo) has signed a subscription agreement with a number of
banks and financial institutions in London on floating rate notes
worth US$ 125 million.

Bapindo said in a statement yesterday that under the agreement
signed last Friday by the bank's president, Arbali Sukanal, the
notes have a maturity of seven years and carry a coupon rate of
one percent per annum above the London Inter-Bank Offered Rate.

The bank will use the loan to strengthen its working capital
and improve the maturity profile of its funding structure, the
statement said.

It said the arrangement of the note issuance was led by the
London Forfaiting Company Far East Ltd., and participated in by
ING Bank, Indover Bank of the Netherlands, Westdeutsche Landes
Bank Asia Pacific Ltd., KEXIM Asia Ltd., Korea Merchant Banking
Corporation and Bank of Seoul of South Korea.(32)