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)