Mar 26, 2012

BNI to issue US$500 million bonds

The state-controlled PT Bank Negara Indonesia Tbk (BNI) will issue dollar bonds up to US$500 million, said one official. 
The bank has appointed Credit Suisse AG, Deutsche Bank AG and Morgan Stanley as the joint lead arrangers. 
The deal roadshow is scheduled end of April and expected to complete first week of May.  "Yes we've planned to issue global bonds in near time. Last Wednesday is the kick off meeting for the plans," Bank Negara's Corpoarte Secretary, Tribuana Tunggadewi told The Insider Stories. 
She said, the bank haven't decided yet the tenor and the prices of the bonds. Previously, BNI's CEO Gatot Soewondo said the bank plans to issue the global bonds for the bank reserves to anticipate the higher loans demand and business expansion. This year, BNI expects the net profit grow 30% and loans growth up to 20% from last year.

Disclosure: No position at the stock mentioned above.

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