Nov 8, 2010

Bank Danamon to issue Rp2 trio bonds

Publicly listed PT Bank Danamon Tbk (BDMN) plans to issue Rp2 trillion fixed rate bonds in two series maturity of 3 years and 5 years.
In the prospectus published today, Bank Danamon has mandated four lead underwriters PT Indo Premier Securities, PT Standard Chartered Securities Indonesia, PT Danareksa Sekurita, and PT Kresna Graha Sekurindo Tbk.
The bonds have obtained idAA+ rating and stable outlook from Indonesian rating agency PT Pemeringkat Efek Indonesia (Pefindo).
Bank Danamon will use 60% of the bonds proceed to support micro credit financing, 25% for small to medium enterprises, and the remaining for other credit portfolio. 

Disclosure: No position at the stock mentioned above.  

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