Exim Bank raises loan

Exim Bank raises loan

JAKARTA (JP): State-owned Bank Ekspor Impor Indonesia (Exim
Bank) is listing its US$59 million floating rate notes due in
1999 on the Stock Exchange of Singapore, the bank said yesterday.

The issue is fully underwritten by the Singapore-based
Yamaichi Merchant Bank and KEXIM Asia Limited as lead managers,
Hua Nan Commercial Bank Ltd., Offshore Banking Branch Taipei and
LTCB Asia Limited as co-lead managers as well as seven other
foreign banks and securities houses, including Merrill Lynch Hong
Kong Securities Ltd. and Sumitomo Finance Ltd., as co managers.

The notes, to be issued at par, will carry a coupon of 120
basis points above the six-month London Inter Bank Offered Rate
(LIBOR), payable semi-annually in arrears.

The Exim Bank, with a network of 69 branches, 30 sub-branches
and 73 deposit-taking branches in the country and six branches
abroad, will issue the notes in bearer form in denominations of
$500,000 each. The notes will have a tenure of five years and
will mature in September 1999. (rid)