BNI gets $170m in loan

JAKARTA (JP): The state-owned Bank Negara Indonesia (BNI) has issued floating rate notes in Hong Kong to raise US$170 million.

The issue, which was arranged by eight banks, carries a coupon of 0.75 percent per annum over the six-month London Interbank Offered Rate and has a maturity of ten years with an option exercisable at the seventh year and call options at the fifth and the sixth years.

Chase Manhattan Asia Limited, one of the eight arrangers, said in a statement here yesterday that the issue, which was signed in Hong Kong on Monday, was fully subscribed by a total of thirty international financial institutions, including the eight lead managers. (rid)