BII to issue Rp 2t of bonds

BII to issue Rp 2t of bonds

JAKARTA: Nationalized PT Bank Internasional Indonesia plans to issue Rp 2 trillion (US$227 million) of bonds in the second half of this year, an official with the bank said Wednesday.

BII's President Director Sigit Pramono told reporters that the planned bond issuance is part of the bank's measures to switch more financing into longer maturities.

However, he stopped short of revealing the maturity of the bond.

"We are in the middle of selecting underwriters," Sigit said. He added that the bank will select foreign and local underwriters for the issue.

The recent fall in domestic interest rates have encouraged local companies to access the local debt market to raise funds. Such exuberance is expected to help expand the underdeveloped local bond market. -- Dow Jones