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Bank Rakyat Indonesia to raise 20 trillion rupiah via bond issuances

PT Bank RakyatIndonesia (Persero) Tbk is looking to raise 20 trillion rupiah viabond issuances, Reuters reported July 22, citing the lender's CFO, HaruKoesmahargyo.

The bank will issue 10 trillion rupiah worth of bonds in2016, with plans to issue the remaining in 2017, the CFO said. He added that thebank is issuing the bonds to refinance maturing debt and to benefit fromrepatriated funds from the government's tax amnesty program.

Bank Rakyat Indonesia may also issue 5 trillion rupiah ofmedium-term notes in 2016 if market conditions are favorable.

As of July 21, US$1was equivalent to 13,110 Indonesian rupiah.