Bank Mandiri to Issue US$300 Million Bonds

PT Bank Mandiri Tbk invited more than 10 foreign investment banks to submit proposals to underwrite the issuance of US$300 million senior bonds.

The bank has planned to use the money to strengthen the balance sheet. Bank Mandiri will issue the senior bonds in October-November with the tenor of three years.

In April 2003 the bank issued medium term notes of US$300 million and the MTNs were listed at Singapore Stock Exchange. Initially, the MTN should be the part of US$1 billion bonds, but the bank cancelled the plan to issue such total bonds. Bank Mandiri has MTN of US$295.69 million to mature next year.