BRI to issue $70m notes

BRI to issue $70m notes

HONG KONG (Reuter): State-owned Bank Rakyat Indonesia (BRI) is planning a US$70 million floating rate note or floating rate certificate of deposit issue, sources familiar with the transaction said.

They said the facility is likely to have a maturity of five years with no put or call options.

Last November, BRI launched a US$120 million floating rate certificate of deposit issue through its Cayman Island Branch.

The five-year issue had no put or call options.

It priced at par to float at 70 basis points over the three- month London Interbank Offered Rate. With fees, the all-in return for top-tier managers was 81 basis points.