BRI issues deposit notes

BRI issues deposit notes

JAKARTA (JP): State-owned Bank Rakyat Indonesia (BRI), acting
through its Cayman Islands branch, has launched floating rate
certificates of deposits worth US$120 million in Hong Kong.

The issue on Wednesday yields a spread of 70 basis points per
annum over the six-month London Inter-bank Offered Rate (LIBOR)
and will mature in December 2000.

The arrangers of the issue include Arab Bank plc, Chemical
Securities Asia Limited, DKB Merchant Bank (Singapore) Limited,
LTCB Asia Limited, Indover Bank and Sanwa International Finance
Limited. (hen)