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.