A source familiar with the matter said BNI and the joint lead arranges have priced the bonds at 4.125%. "Demand from investors nearly US$3 billion or close to seven fold oversubscribed," the source told The Insider Stories tonight.
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.
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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