NISP set for bond issue in early 2005

NISP set for bond issue in early 2005

JAKARTA: Indonesia's PT Bank NISP said on Wednesday it plans to
issue Rp 750 billion (US$83 million) worth of local bonds early
next year to strengthen its long-term loan provisions and
safeguard its risk management system.

"We expect the bond issue will attract investors, given the
improving banking sector outlook here after the new government,"
Bank NISP President Pramukti Surjaudaja told Dow Jones.

Pramukti said the bank has named PT Mandiri Sekuritas and PT
NISP Sekuritas as joint-lead underwriters for the five-year bond
issue.

In the first nine months of 2004, Bank NISP's net profit
jumped 70 percent on year to Rp 203.79 billion. NISP is 22.5
percent-owned by Singapore's Oversea-Chinese Banking Corp. -- Dow Jones