BII to hire UBS, Barclays for bond

BII to hire UBS, Barclays for bond

JAKARTA: PT Bank Internasional Indonesia, the country's sixth- largest lender, plans to hire Barclays Plc and UBS AG to help it sell dollar-denominated bonds, bankers familiar with the situation said.

Barclays and UBS were verbally informed they would be awarded the mandate and a formal agreement is expected to be signed in the next few days, said the bankers, who didn't want to be identified. BII plans to sell an unspecified amount of bonds next year, its first overseas debt sale.

Bank Internasional, PT Mitra Global Telekomunikasi and other Indonesian companies are selling bonds to fund expansion and pay debt, after a presidential election calmed concerns about political instability.

Bank Internasional, which is controlled by Kookmin Bank, South Korea's largest lender, earlier this month invited UBS, Barclays, Deutsche Bank AG, Citigroup Inc. and DBS Group to pitch for the sale. -- Bloomberg