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Bank Mandiri to raise 3 trillion rupiah via bonds

PT Bank Mandiri (Persero) Tbk plans to raise 3 trillion Indonesian rupiah by issuing bonds, The Jakarta Post reported Aug. 9, citing the bank's executives.

The state-owned bank would use proceeds of the bond issue to bolster its funding structure and expand its loan disbursement, said Panji Irawan, the bank's finance director. The bonds will carry a five-year tenor and a coupon of between 7.75% to 8.50%.

The book-building period runs from Aug. 8 to Aug. 24.

The bonds are expected to be offered to the public from Sept. 14 to Sept. 17.

As of Aug. 9, US$1 was equivalent to 14,406.00 Indonesian rupiah.