BDN issues bonds

JAKARTA (JP): The state-owned Bank Dagang Negara (BDN) will float bonds worth US$165 million in overseas markets to strengthen its financing structure, the bank announced.

The agreement on the issuance of the bonds was signed in Hong Kong yesterday, the bank said in a statement made available to The Jakarta Post yesterday.

The bonds will be listed in Hong Kong, Singapore and Luxembourg. J.P. Morgan Securities Asia Ltd. of Hong Kong acts as lead manager, with other eight foreign financial institutions acting as co-lead managers and other nine as co-managers.

The bank, however, did not explain the yield of the bonds, which has a maturity period of seven years. (hen)