BII signs $35m FRCD

Tue, 18 Mar 1997 | Source: REUTERS

BII signs $35m FRCD

HONG KONG (Reuter): PT Bank Internasional Indonesia's (BII) US$35 million floating rate certificates of deposit issue has closed, arranger HSBC Markets said yesterday.

The five-year issue, which was launched through the bank's Cayman Islands branch, was issued at par to float at 85 basis points over the six-month London Interbank Offered Rate.

With fees, the all-in return for top-tier managers is 109 basis points.

Arranger HSBC Markets committed US$12 million.

Co-lead managers are Paine Webber International (UK), with US$10 million, and Standard Chartered Bank, with US$4 million.

Signing is tentatively set for March 26. The payment date is tentatively set on April 11.

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