BNI delays US$100m bond

BNI delays US$100m bond

JAKARTA: State-owned PT Bank Negara Indonesia is postponing its planned US$100 million bond offering following the weekend terrorist attacks in Bali.

The bank has decided to delay the international roadshow for its proposed subordinated debt offering. The bank had originally planned to kick start its investor presentations next week.

"We decided to delay our entry to the market due to unfavorable market sentiment," a bank official told Dow Jones Newswires.

It remains unclear when the marketing roadshow will now take place, the banker added. He only said: "Hopefully next month."

Another source close to the deal said BNI is just delaying the launch of the bond offering and not canceling it.

"The deal is not canceled," said the source. "We just don't have a timeline yet." -- Dow Jones