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Bank Mandiri to raise up to 40 trillion rupiah via debt instruments

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Bank Mandiri to raise up to 40 trillion rupiah via debt instruments

PT Bank Mandiri (Persero) Tbk plans to issue up to 40 trillion rupiah of debt instruments in 2019, IDNFinancials reported Jan. 8, citing the bank's finance director, Panji Irawan.

The bank plans to issue up to US$2 billion of debt instruments, Irawan said, noting that the U.S.-dollar denominated offering can be done via an issuance of bonds, certificates of deposit, medium-term notes or bilateral loans.

The lender will also issue 10 trillion rupiah worth of medium-term notes or bilateral loans, Irawan added.

Proceeds from the offerings will be used to boost Bank Mandiri's credit growth, including in foreign exchange.

In addition, the bank appointed Riduan Ahmad as director of commercial banking, the news outlet separately reported Jan. 7, citing the lender's president director, Kartika Wirjoatmodjo.

Ahmad was formerly senior executive vice president of the bank's commercial banking division.

As of Jan. 7, US$1 was equivalent to 14,081 Indonesian rupiah.